Shares of pharmaceutical company Wockhardt fell sharply on the Bombay Stock Exchange (BSE) Monday on reports the Bombay High Court has admitted a winding-up petition filed by the company's foreign currency convertible bond (FCCB) holders.
A group of three FCCB holders - Singapore-based hedge fund QVT, Sun Pharma's overseas unit and Syndicate Bank - had filed filed the petition in January 2010 to recover their investments of Rs.634 crore ($140 million) through the sale of the company's assets, according to a report. The winding-up petition was admitted by the court on Friday.
Shares of Wockhardt are currently trading at Rs.327.40 on the BSE, down 5.70 percent from the previous close. The stock fell to a low of Rs.312.50 early in the session.
Meanwhile, shares of Sun Pharma, which holds bonds worth $20 million, are currently up 0.21 percent at Rs. 421.50 on the BSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.