Shares of drug major tanked Wockhardt plummeted 20 per cent, hitting 52-week low, in early trade on Bombay Stock Exchange (BSE) on media reports of the company receiving import alert from UK's drug regulator MHRA on the company's manufacturing unit in Aurangabad.
According to media reports, the company will have to bear a huge annual loss of Rs 100 crore due to the MHRA alert on Waluj plant in Aurangabad.
Reacting to news, shares of company declined as much as 19.99 per cent and touched 52-low to trade at Rs 732.00 a piece on the BSE.
In a similar fashion, shares of the company dipped 2.25 per cent to Rs 895.00 a piece on National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 19,243.23, down 252.59 points or 1.30 per cent at 9:40 hours.