Wockhardt (Code :
532300) : Drug firm Wockhardt Ltd has come out with strong Q3 numbers. Its consolidated net profit rose by 50.21 per cent to Rs 212.81 crore on the back of strong sales in the US market.Net sales rose to Rs 1,208.67 crore in the quarter ended December 31, 2011, from Rs 950.80 crore in the same period last fiscal. Its US operations have for the first time surpassed all records by crossing the $100 million-mark in a single quarter. For the nine months period ended December 31, 2011, the company posted a net profit of Rs 534.35 crore, while it had reported a net loss of Rs 71.31 crore for the same period last fiscal. The company has filed a consent decree in the Bombay High Court to pay FCCB holders the outstanding amounts along with the interest on reducing balance by August 2012. The company was defaulted on its 11 crore dollars FCCBs in 2009. But after that, Wockhardt has turn around rapidly and now it is on path of high growth. The stock has jumped from just Rs. 438 to Rs.510 in five tradingsessions and finally closed at Rs.475 on profit taking. Buy at every decline
532300) : Drug firm Wockhardt Ltd has come out with strong Q3 numbers. Its consolidated net profit rose by 50.21 per cent to Rs 212.81 crore on the back of strong sales in the US market.Net sales rose to Rs 1,208.67 crore in the quarter ended December 31, 2011, from Rs 950.80 crore in the same period last fiscal. Its US operations have for the first time surpassed all records by crossing the $100 million-mark in a single quarter. For the nine months period ended December 31, 2011, the company posted a net profit of Rs 534.35 crore, while it had reported a net loss of Rs 71.31 crore for the same period last fiscal. The company has filed a consent decree in the Bombay High Court to pay FCCB holders the outstanding amounts along with the interest on reducing balance by August 2012. The company was defaulted on its 11 crore dollars FCCBs in 2009. But after that, Wockhardt has turn around rapidly and now it is on path of high growth. The stock has jumped from just Rs. 438 to Rs.510 in five tradingsessions and finally closed at Rs.475 on profit taking. Buy at every decline
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