Shares of Biocon surged 8% in intraday trade on Tuesday after the company reported strong earnings growth for the three months ended March period. The stock hit a high of Rs 260 and is currently trading 2.5% higher at Rs 247.5 apiece on NSE. The pharmaceutical major’s net profit rose 31% to Rs 313 crore … Read more
MUMBAI – Pharmaceutical major Biocon today reported a 31.3% year-on-year (YoY) rise in consolidated net profit for the March quarter to Rs 313 crore on the back of a strong revenue growth. Consolidated revenue from operations increased 57% on year to Rs 3,774 crore. The board has recommended a final dividend payout of Rs 1.50 … Read more
Kotak Special Situations Fund, managed by Kotak Investment Advisors, on Wednesday announced an investment of Rs 1,070 crore in Biocon. The proceeds will be used to finance Biocon Biologics’ acquisition of the biosimilars business of its partner Viatris to create a global vertically integrated biosimilars player. With the current investment in Biocon, the Kotak Special … Read more
Indian market closed in the red on Wednesday amid muted global cues and F&O expiry. The S&P BSE Sensex fell more than 700 points while the Nifty50 failed to hold on to 17900 levels. Sectorally, selling was seen in utilities, power, banks, telecom, and the public sector. Stocks that were in focus include names like … Read more