Wockhardt, Manappuram Finance, Muthoot Finance, Indiabulls Securities shares rally

Written by Reuters | Mumbai | Updated: Nov 7 2013, 19:13pm hrs
Wockhardt LtdWockhardt's had said it will take a revenue hit of nearly ? 1 million due to restrictions imposed by UK regulator on medicines made at one of its facilities.
Wockhardt Ltd is up 6 per cent, Manappuram Finance Ltd shares gain 4.8 per cent and Muthoot Finance Ltd surges 10 per cent, while Indiabulls Securities Ltd rises 4 per cent after the National Stock Exchange increases their daily price limits.

Daily limits in these companies have been raised to 20 per cent from 5 per cent, the NSE said late on Wednesday.

The exchange periodically adjusts the daily limits for companies' shares based on a set of criteria such as liquidity.

Drug major Wockhardt had said on Wednesday it will take a revenue hit of nearly one million pounds due to import restrictions imposed by the UK health regulator on medicines made at its Kadaiya facility in Nani Daman.

The company, however, said Medicine and Healthcare Products Regulatory Agency, UK, (UKMHRA) has eased the restrictions to an extent allowing it to supply most of the products manufactured at the said facility to the UK.