/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A couple of antibiotics that have the potential to change the beleaguered company’s fortunes need a quick infusion of funds to get across the finish line. Can Khorakiwala, the 82-year-old chairman, pull it off?
In August last year, Mumbai-based Wockhardt was in need of a quick rescue plan. Its shareholders had just snubbed its promoter and chairman Habil Khorakiwala by rejecting a resolution that would allow him to lend up to Rs 1,600 crore to the pharmaceuticals company. With its annual interest payouts more than 3x its operating profits, we wrote that Wockhardt was running out of options.
Yet, in the last six months, Wockhardt’s share price has doubled. It has gone from Rs 228 on 25 August to a 52-week high of Rs 494 in early January and currently trades at Rs 443. …
With a promoter who is unafraid to make bold bets and pivot to businesses holding more promise, investors can only look forward to better times.
The Hyderabad-based generics maker has seen its stock scale all-time highs and lows in quick succession. With big plans in place and regulatory heat easing, its roller-coaster days may be over.
From making condoms to steering clear of costly formulations, the drugmaker’s strategy of taking the road less travelled could now give it a seat at the high table.
