Wockhardt surges 20% on expectations of CDR settlement

Shares of Wockhardt surged higher on market talk that the company may be headed for corporate debt restructuring settlement.

The company may replace existing FCCBs with new the ones. It may issue FCCBs worth $75.08 million and increase authorised capital from Rs 925 crore to Rs 1125 crore.

The stock hit upper circuit (Rs 224.65), up Rs 37.45 or 20.01 per cent on the NSE. The scrip has surged nearly 50 per cenet in the past 5 days on the back of rumours of debt settlement.

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