Wockhardt share price gains 4% as board to consider fund-raise on January 6

Stocks

The share touched a 52-week high of Rs 804.50 on May 26, 2021 and a 52-week low of Rs 388 on December 22

Wockhardt

Wockhardt

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Wockhardt share price advanced 4 percent intraday to Rs 429 on January 4 after the biopharma company said that its board would consider fund-raising options on January 6.

“This is to inform you that a meeting of the board of directors of Wockhardt will be held on Thursday, January 6, 2022, for considering and approving various fund-raising options for the company, as the board may deem appropriate,” the company said in a release.

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At 11.35 am, Wockhardt was quoting at Rs 422.15, up Rs 9.75, or 2.36 percent, on the BSE.

The share touched a 52-week high of Rs 804.50 on May 26, 2021 and a 52-week low of Rs 388 on December 22. It is trading 47.53 percent below its 52-week high and 8.8 percent above its 52-week low.

Wockhardt is engaged in the pharmaceutical and biotechnology segments.

In the biopharmaceutical segment, the company has developed a basket of products such as Erythropoietin, Recombinant Human Insulin and Glargine. The company sells 23 products in the generic segment in the US market.

In the new drug discovery area, it has developed a number of lead molecules in the anti-infective field.