16 August, 2012
Wockhardt - A raising star
It was in 2009, Wockhardt, a generic drug maker was almost declared NPA after defaulting $110 million. Fortunately the lenders obeyed for corporate debt restructuring (CDR), and now it turned a success story. I still remembered Wockhardt scared to bid IPO due to then market conditions.
Now it is a turn around story, paid all it's debts, and making huge profits. I have seen their pride ad in ET Wealth. The share was as low as Rs.67/- during March 2009 (down trend), and today it hit all time highest of Rs.1240/-, an 18 fold raise, and I don't see it has hit it's saturation.