Biocon hits record high; soars over 10%

The stock of Biocon Ltd. surged over 10% during Friday’s trade to hit its record high of Rs 404 riding on the USFDA’s Oncologic Drugs Advisory Committee (ODAC) recommendation of approval of its proposed biosimilar trastuzumab.

The committee voted 16-0 in support of eligible indications of the reference product, Herceptin, which include HER2-positive breast cancer in the metastatic and adjuvant settings, informed Biocon in a BSE filing on Friday.

Biocon Ltd. was trading at Rs 400.70, up by Rs 34.05 or 9.29% as at 1457 hours on Friday, on the BSE. The stock has hit an intraday high of Rs 404, which is also its record high.

The stock has attracted traded volume of 1,73,95,345 shares and traded value of 69,287.40 lakh on the NSE.

Stock view :-

Biocon Ltd is currently trading at Rs 399.35, up by Rs 32.7 or 8.92% from its previous closing of Rs 366.65 on the BSE.

The scrip opened at Rs 388.75 and has touched a high and low of Rs 404 and Rs 385 respectively. So far 20223745(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 21999 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 396 on 25-Apr-2017 and a 52 week low of Rs 229.66 on 19-Jul-2016. Last one week high and low of the scrip stood at Rs 370.8 and Rs 305 respectively.

The promoters holding in the company stood at 60.68 % while Institutions and Non-Institutions held 21.43 % and 16.12 % respectively.

The stock is currently trading above its 200 DMA.

Biocon Ltd :-
BSE 399.20 32.55    (8.88%)
NSE 400.35 32.65    (8.88%)


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