Wockhardt tumbles 11% on Form 483 issued by US FDA

The inspection of the company’s Shendra plant was completed on January 14, 2015 by the US Food & Drug Administration.

Shares of Wockhardt Ltd are currently trading 11% lower at Rs. 1,352.80 on BSE after the US drug regulator issued Form 483 to the company for its manufacturing plant located at Shendra.

The scrip opened at Rs. 1515 and has touched a high and low of Rs. 1520 and Rs. 1323 respectively. So far 3192446(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 16746.52 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2000 on 08-Apr-2015 and a 52 week low of Rs. 1021.5 on 15-Jan-2015. Last one week high and low of the scrip stood at Rs. 1647 and Rs. 1489.65 respectively.

The promoters holding in the company stood at 74.2 % while Institutions and Non-Institutions held 11.63 % and 14.04 % respectively.

The inspection of the company’s Shendra plant was completed on January 14, 2015 by the US Food & Drug Administration. “We will respond to US FDA’s Form 483 with corrective measures within 15 days,” said the company.

The stock is currently trading above its 50 DMA.