May 22, 2012, 02.23 PM | Source: Moneycontrol.com
Shares of Wockhardt, a pharmaceutical and biotechnology company, rallied more than 4% to touch an intraday high fo Rs 693.45 on Tuesday after company's good performance at EBITDA level.
Pharmaceutical company reported consolidated net loss of Rs 192 crore for the fourth quarter of FY12 as against profit of Rs 162 crore in the corresponding quarter of last fiscal, due to exceptional loss of Rs 450 crore during the quarter.
However, consolidated net sales increased 32% year-on-year to Rs 1,241 crore in the quarter ended March 2012 and EBITDA margins improved at 35% in the January-March quarter of 2012 as against 29% in a year ago period.
At 14:13 hours IST, the share was trading at Rs 690.80, up 3.79%. Even its trading volumes shot up 1,149% to 7,11,443 shares as compared to its 5-day average of 56,981 shares.
Market capitalisation stands at Rs 7,559.83 crore.
Ashwani Gujral of ashwanigujral.com is of the view
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