Stock market analyst VK Sharma has maintained ‘Buy’ rating on Wockhardt to achieve an intraday target above Rs 148.

According to Mr. Sharma, interested traders can buy the stock around Rs 136.60.
 
The support level for the scrip is at Rs 133.85.

If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 152.

The company’s shares on Friday (June 12) closed at Rs 146.95 on BSE. The share price has seen a 52-week high of Rs 256 and a low of Rs 67.50 on BSE.

The audit committee and board of directors of Wockhardt nominated BDO Haribhakti as the company’s statutory auditors from the financial year starting from January 1, 2009.

It is planned that BDO Haribhakti be retained for a period of five years.  

Wockhardt said that it will sell its animal healthcare biz for an amount not below Rs 1.50 billion.

The company on May 6 planned the divestment of this asset via a postal ballot, which will close on July 1, 2009.

Wockhardt`s animal healthcare business posted a net sales of Rs 770 million and had an EBITDA of Rs 180 million for the year ended Dec. 31, 2008.

Wockhardt, in May 2009, got tentative nod from US Food and Drug Administration (USFDA) for Adenosine injection in the strength of 3 mg/ml.

Moreover, the company bagged final sanction from the USFDA to market Ranitidine syrup, in the strength of 15 mg.

Wockhardt together with its US division executed a settlement and license contract with Orion Corporation regarding Wockhardt`s submission of Abbreviated New Drug Applications (ANDAs) for the generic versions of Orion`s Comtan and Stalevo products.

In April 2009, the company said that it is intending to tap the $33-billion biosimilar market and concentrate on products, which lose patent protection in 2013-2015.