Smallcap stocks outperformed Tuesday even as the broader market weakened. Wockhardt, Tata Tech and CAMS climbed as much as 11% after upbeat Q4 earnings. The Nifty 50 slipped below 24,000 amid global worries, but improving momentum and technical signals suggest smallcaps could keep building strength, according to Emkay.
Wockhardt shares jumped around 9% after the pharma firm reported a strong March-quarter turnaround. Net profit returned to positive territory as revenue rose sharply, and full-year earnings improved too. Biotech operations drove much of the momentum, supported by expansion across emerging markets. The company also said its pipeline grew through new filings and approvals.
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Habil Khorakiwala’s turnaround of Wockhardt began amid near bankruptcy, including payment defaults to bondholders and troubled manufacturing units. After surviving the company’s worst crises, the focus has shifted to a single blockbuster antibiotic drug hailed as the biggest breakthrough after penicillin. If it scales, Khorakiwala could re-enter the top league again.
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