Wockhardt jumped 4.15% to Rs 396.50 at 10:57 IST on BSE after the company said that its Swiss arm will list on the Berne Stock Exchange in Switzerland today, 19 December 2013.
Meanwhile, the BSE Sensex was down 192.10 points, or 0.92%, to 20,667.76.
On BSE, so far 7.02 lakh shares were traded in the counter, compared with an average volume of 3.13 lakh shares in the past one quarter.
The stock hit a high of Rs 410.70 and a low of Rs 380 so far during the day. The stock hit a record high of Rs 2,166.05 on 12 March 2013. The stock hit a 52-week low of Rs 336.60 on 16 December 2013.
The stock had underperformed the market over the past one month till 18 December 2013, sliding 19.97% compared with the Sensex's 0.04% rise. The scrip had also underperformed the market in past one quarter, falling 32.01% as against Sensex's 4.50% rise.
The mid-cap company has an equity capital of Rs 54.88 crore. Face value per share is Rs 5.
Wockhardt's Swiss arm, Wockhardt Bio AG, had offered 23.48 lakh ordinary shares of Swiss Franc (CHF) 1 each, representing 5% of the post diluted capital, for subscription at a price of CHF 5.05 per ordinary share in its initial public offering (IPO).
The ordinary shares of Wockhardt Bio AG are scheduled to be listed on 19 December 2013 on the Berne Stock Exchange in Switzerland.
Wockhardt Bio AG is the holding company for the pharmaceutical and biotech firm's international operations. Close to 75% of Wockhardt's business comes from outside India and some of the major geographies where it is present include the US, the UK, Ireland and France.
On a consolidated basis, Wockhardt's net profit fell 69.5% to Rs 138.50 crore on 11.2% fall in net sales to Rs 1196.97 crore in Q2 September 2013 over Q2 September 2012.
Wockhardt is a high-technology intensive global pharmaceutical and biotechnology company with multi-disciplinary and innovative R&D programmes. It has three research centres globally and manufacturing facilities across India, USA, UK and Ireland. The company has a significant presence in USA, Europe and India.
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