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Shares of drug firm Wockhardt Ltd advanced by nearly 5 per cent in opening trade on the Bombay Stock Exchange today, boosted by the company’s announcement yesterday of a net profit of Rs 141.67 crore for the quarter ended December 31, 2010.
Brisk buying helped the company’s shares accelerate by 4.99 per cent to touch the upper circuit limit of Rs 398.40 on the BSE.
The news was received positively by investors, given that the company had suffered a Rs 181.23 crore loss in the October-December period of the previous fiscal.
The stock witnessed a similar uptrend on the National Stock Exchange, where it surged by 5 per cent to an early peak of Rs 399.30.
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