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The movement in stock prices of most pharmaceutical companies is likely to be stock-specific, as the broader rally witnessed in counters of drug companies had been captured for the time being, and some stocks could even see correction. We expects some news from Cipla Ltd, which would define the stock's course, in the coming week. Wockhardt's plant in Aurangabad awaits investigations by international drug regulators after the company shut down most of the production at its Waluj plant.
Wockhardt had corrected significantly from July to August. Today, Wockhardt picked up 12% during the session on the news of key promoters increasing stake in the company. It closed 10.8% higher from Thursday's close. However, recommended avoiding trading in Wockhardt stocks. Another a media reports about a merger between Cadila Healthcare Ltd and Torrent Pharmaceuticals Ltd were rumours, but said that it could be good for Cadila's shareholders.
The movement in stock prices of most pharmaceutical companies is likely to be stock-specific, as the broader rally witnessed in counters of drug companies had been captured for the time being, and some stocks could even see correction. We expects some news from Cipla Ltd, which would define the stock's course, in the coming week. Wockhardt's plant in Aurangabad awaits investigations by international drug regulators after the company shut down most of the production at its Waluj plant.
Wockhardt had corrected significantly from July to August. Today, Wockhardt picked up 12% during the session on the news of key promoters increasing stake in the company. It closed 10.8% higher from Thursday's close. However, recommended avoiding trading in Wockhardt stocks. Another a media reports about a merger between Cadila Healthcare Ltd and Torrent Pharmaceuticals Ltd were rumours, but said that it could be good for Cadila's shareholders.
