Stay away from Wockhardt: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "Clearly, the volatility will continue in Wockhardt. Clearly, what the management has guided through in the conference call, one clearly needs to understand what kind of replies actually go through and if one really goes by management hearsay, the FDA replies thereoff would be equally critical as well. So, what happens henceforth over the next few weeks is going to create a huge amount of an overhang for the stock. FDA concerns are not going to go away in a jiffy.""Clearly, you are going to see some amount of action being taken. Now, what that action will be will depend on what kind of replies Wockhardt files. So, at this point of time, unless clarity emerges, I will probably be staying away from this stock," he added.