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Wockhardt tumbles on receiving import alert from USFDA for its Ankleshwar plant

08 Aug 2016 Evaluate

Wockhardt is currently trading at Rs. 919.70, down by 95.90 points or 9.44% from its previous closing of Rs. 1015.60 on the BSE.

The scrip opened at Rs. 955.00 and has touched a high and low of Rs. 960.00 and Rs. 870.00 respectively. So far 4,61,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1748.20 on 02-Dec-2015 and a 52 week low of Rs. 706.35 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1036.40 and Rs. 870.00 respectively. The current market cap of the company is Rs. 10,168.85 crore.

The promoters holding in the company stood at 74.19%, while Institutions and Non-Institutions held 10.14% and 15.54% respectively.

Wockhardt has been issued an import alert from the US Food and Drugs Administration (USFDA) for its Ankleshwar plant for alleged violation of good manufacturing practices. This is the drug maker’s third plant to receive an import alert from the US drug regulator. The Ankleshwar unit manufactures active pharmaceutical ingredients (APIs) and was inspected last year by the US regulator.

The move is a setback to the company’s plans to revive its US business. The share of the firm’s US business in the total sales dropped to 22 percent in FY16 from 24 percent a year ago because of import restrictions. The Ankleshwar plant contributes 10-15 percent of the US sales (Rs 964 crore in FY16).

Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.


Wockhardt Share Price

1396.80 37.70 (2.77%)
17-Apr-2026 16:59 View Price Chart
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