10%-12% upside can be possible in Wockhardt: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Founder Director, Moneyinvestments.in, shares his views on Wockhardt.

ET Now: What is your call on Wockhardt?

Avinnash Gorakssakar: The company positively surprised everyone in this quarter. Markets were expecting bottom line of 260-270 crore and what actually came out was a significantly higher number of around 380 crore. Possibly we could see an earnings improvement. The full year forecast for FY13 and FY14 could possibly be much better than what earlier analyst expected. There has been lot of under participation by participants at lower level. So, the market is getting a sense that this momentum and this sustained move is going to continue for the next couple of quarters. The price has moved up significantly. From here on also, a 10%-12% upside can be possible, provided the earnings momentum continues.