Wockhardt shares tank on US FDA import alert

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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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Read more about: wockhardt, us fda
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