Wockhardt pares gains, up 3%

The stock pared gains and touched a low of Rs 174. The scrip finally settled at Rs 175, up  2.5% from its previous close. The counter clocked volumes of 355,221 shares as compared to the two-week daily average traded volumes of 56,282 shares.
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(Updated at 1006hrs)

Wockhardt has rallied 9% following the news that it has decided to go for an out-of-court settlement with DBS Bank on a dispute over loans the drug manufacturer had taken from the Singapore-based lender.

The stock opened at Rs 175 and zoomed to a high of Rs 190. The scrip is now trading at Rs 186, up 9% from the previous close. The counter has clocked volumes of 79,478 shares as compared to the two-week daily average traded volumes of 56,282 shares on the BSE.

Click here to read more:  Wockhardt, DBS agree to out-of-court settlement