Wockhardt is currently trading at Rs. 403.35, up by 22.65 points or 5.95% from its previous closing of Rs. 380.70 on the BSE.
The scrip opened at Rs. 384.90 and has touched a high and low of Rs. 410.70 and Rs. 380.00 respectively. So far 952698 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2166.05 on 12-Mar-2013 and a 52 week low of Rs. 336.60 on 16-Dec-2013.
Last one week high and low of the scrip stood at Rs. 410.70 and Rs. 336.60 respectively. The current market cap of the company is Rs. 4348.34 crore.
The promoters holding in the company stood at 73.88% while Institutions and Non-Institutions held 10.73% and 15.25% respectively.
Wockhardt has been asked by America’s Federal Drug Administration (FDA) to conduct a global assessment of its plants to ensure that the drug produced by the company conforms to FDA requirements for safety, efficacy, and quality. Questioning the reliability and accuracy of tests conducted by Wockhardt, the FDA in a letter expressed concerned about its inability to implement a robust and sustainable quality system. It is apparent that Wockhardt is not implementing global and sustainable corrective actions. It is essential that your firm implement a robust quality system.
The FDA reminded the Indian company that it is responsible for ensuring that the firm’s drug manufacturing operations comply with applicable requirements and produce acceptable quality drugs. FDA strongly recommends that Wockhardt’s executive management immediately undertake a comprehensive and global assessment of your manufacturing operations to ensure that your systems and processes, and ultimately, the drug products you manufacture, conform to FDA requirements for safety, efficacy, and quality. Of late, the FDA has targeted the largest Indian drug manufacturing producers including Ranbaxy. The FDA Commissioner Margaret Hamburg is slated to travel to India soon.
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