Wanbury continues to do well
Wanbury continues to do well
Wanbury continues on its strong ride into the green. The stock was locked on the 20% upper circuit on Friday at Rs.22.65 and today, it has once again opened stronger. It is currently up almost 4.5% at Rs.23.65, after having hit an intra day high at Rs.25.90. Volumes have risen over 5 times.
The stock is doing very well since the time the company announced on Friday, 27th Sept that two of its facilities were classified as acceptable by the Department of Health & Human Services, Public Health Service, Food and Drug Administration.
This is indeed cause for celebration as this is a rarity in today’s time where most of the companies are getting warnings for serious lapses at their facilities. Thus this approval comes as a pleasant surprise. Plus given the fancy for pharma stocks at the moment, investors too are flocking to this stock as a long term value pick.
The company has a strong with presence in global Active Pharmaceutical Ingredients (API) market and domestic branded formulations. Its APIs basket is of over 13 products and is the largest manufacturer of Metformin (anti-diabetic), largest exporter of Tramadol to US. In Formulations, it has a pan-India presence with 70 brands, strong presence in the therapeutic segments of gynecology, orthopedics, heamatinics, anti-diabetic, neutraceuticals, gastro intestinal, stroke surgery, antibiotics, cough and cold solutions, anti-inflammatory, analgesics and general practice.