Meanwhile, the BSE Sensex was up 63.23 points, or 0.68%, to 10145. On BSE, 37,357 shares were traded in the counter. The scrip had an average daily volume of 46,071 lakh shares in the past one quarter. The stock hit a high of Rs 110 and a low of Rs 102 so far during the day. The stock had a 52-week high of Rs 445 on 19 December 2007 and a 52-week low of Rs 88.80 on 2 December 2008.
The stock had underperformed the market over the past one month till 18 December 2008, rising 6.22% as compared to the Sensex's 12.75% rise. It had also underperformed the market in the past one quarter, falling 39.22% as compared to the Sensex's fall of 24.33%.
The mid-cap drug maker has an equity capital of Rs 54.72 crore. Face value per share is Rs 5. The current price of Rs 108.50 discounts its Q3 September 2008 annualised EPS of Rs 4.91, by a PE multiple of 22.09.
Wockhardt is reported to be looking for potential buyers for its French subsidiary Negma Laboratories to repay its debt to Wockhardt investors. The Indian company had bought the Paris-based company for $265 million in May 2007. Wockhardt has also put its Irish subsidiary called Pinewood on sale for around $150-200 million. Wockhardt acquired Pinewood in 2006 for $150 million.
Report suggested that Swiss Bank UBS, which is advising Wockhardt on its plans to raise Rs 650 crore for its hospital company, is facilitating both transactions. The company reportedly needs over Rs 1000 crore to redeem its foreign currency convertible bonds (FCCBs) which will come up for repayment in October next year.
Wockhardt's net profit rose 77.2% to Rs 13.43 crore on a 20.9% rise in sales to Rs 416.83 crore in Q3 September 2008 over Q3 September 2007. Wockhardt has presence in different drug segments like inflammation and pain, anti-infective, cough syrups, corticosteroids and medical nutrition.
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