Rajen Shah, CIO at Angel Broking told CNBC-TV18, "The worst is over in case of Wockhardt. The stock went up almost 700 -800 percent from a low of Rs 250 sometime in December 1011 to almost a high of over Rs 2,000. Normally such kind of rises are followed by correction and US Food and Drugs Administration (USFDA) thing became a reason for that correction. At this level it is trading at just about 10 times the current year earnings. So nothing much to lose from the current levels, but there could be a modest upside."
At 10:05 hrs Wockhardt was quoting at Rs 1,284.95, up Rs 55.25, or 4.49 percent. It has touched an intraday high of Rs 1,324.40 and an intraday low of Rs 1,259.70.
The share touched its 52-week high Rs 2,166.05 and 52-week low Rs 803.40 on 12 March, 2013 and 25 May, 2012, respectively. Currently, it is trading 40.68 percent below its 52-week high and 59.94 percent above its 52-week low. Market capitalisation stands at Rs 14,080.92 crore.
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