Wockhardt surges on getting nod to raise up to Rs 1,000 crore

Wockhardt Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532300 | NSE: WOCKPHARMA

12 Jun 2017 Evaluate

Wockhardt is currently trading at Rs. 643.00, up by 8.70 points or 1.37% from its previous closing of Rs. 634.30 on the BSE.

The scrip opened at Rs. 639.50 and has touched a high and low of Rs. 643.40 and Rs. 634.35 respectively. So far 36052 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1129.00 on 21-Jul-2016 and a 52 week low of Rs. 558.25 on 25-May-2017.

Last one week high and low of the scrip stood at Rs. 647.00 and Rs. 608.95 respectively. The current market cap of the company is Rs. 7050.75 crore.

The promoters holding in the company stood at 74.25%, while institutions and non-institutions held 7.26% and 18.49% respectively.

Drug firm Wockhardt has received its shareholders’ nod to raise up to Rs 1,000 crore via issue of securities. The company earlier sought shareholders’ approval through postal ballot for raising additional capital by way of one or more public or private offerings including through a Qualified Institutional Placement (QIP) to investors through issuance of equity shares or other eligible securities. The said special resolution has been approved by the members of the company with requisite majority.

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.