Multibagger smallcap stock continues its uptrend; zooms 41% in 5 days

Wockhardt share price, Wockhardt news: Multibagger small cap stock Wockhardt is continuing with its uptrend and amid the run notched a fresh 52-week high price in early trade on July 4 of Rs 993.35 apiece on the BSE , gaining nearly 12 per cent.. At the last count, though, shares pared much of their early gains and traded higher by nearly 4 per cent at Rs 919.75. On the NSE, the stock scaled its fresh 52-week price of Rs 995. 

In a month, the stock has galloped a sharp 70 per cent, while its 1-year return is at 288 per cent.

Since the company’s Rs 480 crore Qualified Institutional Placement (QIP) in March, the stock is in consistent uptrend. Several institutional investors participated in the QIP fundraise. 

However, the recent buying activity in the stock is triggered as the company’s two antibiotics drugs are soon to be launched in India. The company's Investigational Antibiotic- Zaynich- WCK 5222  drug was successful in treating a patient in the US against cancer. Currently, multinational phase 3 study is going on in the drug.

For the second drug namely WCK 4873 - Nafithromycin, the Drugs Controller General of India  (DCGI’s) approval is sought for the treatment of pneumonia and the same will be launched in the country upon approval in a few months.

Furthermore, as per Zee Business research inputs, the company is gearing up for big product launches going ahead.