Intraday Spotlight: This pharma stock has jumped over 12 per cent in a falling market

The company is one of the leading gainers in the A group.

Wockhardt Ltd, research-driven global pharma and biotech company, has jumped by over 12 per cent today from its previous close of Rs 292.25. The stock opened at Rs 296 and has made its day high of Rs 334.35. As of 1:35 pm today, the stock was trading near Rs 329 on the BSE. This S&P 500 pharma company is the second highest gainer in group A on the BSE.    

With Sensex dropping down by over 500 points today, this pharma company has been flying as it announces a collaboration with Serum Life Sciences UK Ltd (a subsidiary of the Serum Institute of India) for manufacturing multiple vaccines in the UK. A profit-sharing arrangement has been made between the two parties for this new facility that will deliver an additional 150 million vaccine doses of multiple vaccines, according to its press release. This will be a long-term agreement spanning up to 15 years which can be further extended. Wockhardt UK has manufactured the covid-19 vaccine called AstraZeneca. Hence, a collaboration with Serum might be a strategic call for the company. 

Wockhardt Ltd is a smallcap S&P 500 company headquartered in India. However, about 82 per cent of its sales are from international business.  

The stock has a 52-week high and low of Rs 741.75 and Rs 287.05, respectively.