India's Wockhardt climbs on narrower Q1 loss

Wockhardt

12/08/2024 09:02

** Shares of pharmaceuticals company Wockhardt  WCKH.NS 
rise 3.5% to 990 rupees
    ** Stock on track for fourth straight session of gains
    ** Co reports narrower Q1 loss of 140 mln rupees ($1.7 mln)
from loss of 1.34 bln rupees year ago, helped by new launches
    ** Larger rival Sun Pharmaceutical  SUN.NS  beat Q1 profit
estimates earlier this month
    ** WCKH up 130% YTD, while Nifty Pharma index  .NIPHARM 
which includes SUN and WCKH's other peers, is up by around 32%
    ** WCKH is not part of the Pharma index

($1 = 83.9340 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))