Wockhardt shares down on fresh USFDA warning..How we made gain in today market

SELL CALL	TARGET
SCRIP	WOCKPHARMA
CALL	SELL
ENTRY	BELOW 468
TARGET	435
RESULT	TARGET ACHVD
GAIN	6.45%

Shares of pharma company Wockhardt Ltd are down by almost 9 per cent in the wake of the company receiving a Warning Letter from USFDA for its manufacturing units located at Chikalthana and Waluj, both in Aurangabad.

It said the USFDA has excluded five products from import alert. But one of the key products Metoprolol XR was under the import alert issued by USFDA. Wockhardt said it had taken many steps to follow the observations made by the USFDA and would put all efforts to 'resolve the matter at the earliest'.

Shares of the company were down by Rs 41.80 or 8.86 per cent to trade at Rs 430.20 in the BSE. The stock is trading at 20 per cent of its 52 week high of Rs 2166.05 that it hit on March 12 this year in the BSE following issue of warning letters from USFDA and also restrictions from the UK.