Wockhardt shares pause massive 36% rally in 5 sessions; slip 7%. What’s behind the selloff?

Wockhardt shares dropped after a recent surge, as investors took profits. This followed the US FDA approval of ZAYNICH, an antibiotic for urinary tract infections. The company also reported a strong turnaround in its March quarter results. Revenue and profit saw significant year-on-year growth. Biotech operations were a key driver of this improved performance.

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