Wockhardt shares tank on US FDA import alert

Shares in pharma major tanked in trade following an import alert at the company's plant at Chikalthana. The stock was last trading at Rs 430, down almost 9 per cent in trade.

According to news reports the Chikalthana plant of the company contributes a majority to the earnings before interest, depreciation and tax at the company.

This is the second plant of the company that has received a US FDA warning following an earlier warning letter to the company's Waluj plant. There is a possibility that the company's earnings are likely to be hit badly following the US FDA import alert on its 2 plants.

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