Wockhardt plunged over 11 pc on BSE
Shares of Wockhardt tanked over 11 per cent on the Bombay Stock Exchange, a day after the company said it would undertake a corporate debt restructuring exercise.
By PTI |
MUMBAI: Shares of Wockhardt tanked over 11 per cent on the Bombay Stock Exchange, a day after the company said it would undertake a corporate debt restructuring exercise and its promoter Habil Khorakiwala will quit the post of Managing Director.
The scrip settled with a loss of 11.11 per cent to close at Rs 76. During the day, the scrip had touched an intra-day low of Rs 68.45, down 19.94 per cent from its previous close on the BSE.
On the National Stock Exchange, the scrip plunged 11.36 per cent to end at Rs 75.65. During the trading hours, the shares slid 22 per cent at Rs 66.50. Over 66.09 lakh shares changed hands on the two bourses.
Yesterday, the pharmaceutical firm had said that it was looking at restructuring its certain businesses and subsidiaries, keeping in view the adverse market conditions, liquidity constraints and debt burden on the company.
Meanwhile, in a filing to the BSE, Wockhardt today said it has appointed Murtaza Khorakiwala as the Managing Director on the board of the company.
The announcement comes after Wockhardt CMD Habil Khorakiwala resigned as the MD of the company.
The scrip settled with a loss of 11.11 per cent to close at Rs 76. During the day, the scrip had touched an intra-day low of Rs 68.45, down 19.94 per cent from its previous close on the BSE.
On the National Stock Exchange, the scrip plunged 11.36 per cent to end at Rs 75.65. During the trading hours, the shares slid 22 per cent at Rs 66.50. Over 66.09 lakh shares changed hands on the two bourses.
Yesterday, the pharmaceutical firm had said that it was looking at restructuring its certain businesses and subsidiaries, keeping in view the adverse market conditions, liquidity constraints and debt burden on the company.
Meanwhile, in a filing to the BSE, Wockhardt today said it has appointed Murtaza Khorakiwala as the Managing Director on the board of the company.
The announcement comes after Wockhardt CMD Habil Khorakiwala resigned as the MD of the company.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
