Wockhardt shares jump 17%, hit fresh 52-week high
Wockhardt extended its winning streak for the third straight session, drawing strong investor interest with trading volumes surging over 4.5 times on the BSE. The stock rallied alongside broader buying momentum in the pharma sector.
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Shares of Wockhardt surged 17% to hit their 52-week high of Rs 1,809 on the NSE. The stock has extended its unbeaten streak to the third session in a row. The stock garnered strong interest from the investors with a spurt in volume of more than 4.5 times on the BSE.The stock gained amid buying action in the pharma pack, with Nifty among the top-performing sectors in a lacklustre trade today. The Nifty Bank was up 0.4% with 14 stocks trading in the green in the 20-stock index.The pharma company, which is into branded manufacturing of drugs, contract manufacturing, API and vaccines, released its forward-looking statements last week on Thursday.The company said that it has filed for its Zaynich drug with the Drug Controller General of India (DCGI) for approval, and the India launch is expected in H2 FY25- 26.The company recently reported fourth quarter results for the financial year 2024-25. The company's revenue for Q4FY25 stood at Rs 743 crore compared to Rs 750 crore in the previous year. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) grew 13% QoQ in the quarter under review at Rs 79 crore compared to Rs 70 crore in the previous year.The company's net losses in the January-March quarter of FY25 narrowed to Rs 45 crore versus Rs 177 crore in the year-ago period. The PAT margins were reported at -6.1% versus -23.6% versus those in the year-ago period.The company reported 7 filings for new product launches in FY2024- 25 and 6 launches in Wockhardt UK, along with 1 filing and 6 new launches in Ireland.In the biosimilars & NCE segments, 19 filings & 5 approvals were reported.The India-branded business stood at Rs 95 crore in Q4FY25, and for FY25, the revenue was Rs 456 crore. The UK Business stood at Rs 292 crore in Q4FY25 with a growth of 9%, and for FY25, the revenue was Rs 1,169 crore with a growth of 12%. Meanwhile, the Irish Business stood at Rs 47 crore in Q4FY2,5 and for FY25, the revenue was Rs 181 crore.
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