Biocon gains on divesting 5.4% stake in Syngene International
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Biocon is currently trading at Rs. 295.20, up by 2.95 points or 1.01% from its previous closing of Rs. 292.25 on the BSE.
The scrip opened at Rs. 292.40 and has touched a high and low of Rs. 296.50 and Rs. 292.00 respectively. So far 31802 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 410.50 on 08-Feb-2022 and a 52 week low of Rs. 290.25 on 06-Sep-2022.
Last one week high and low of the scrip stood at Rs. 304.85 and Rs. 290.25 respectively. The current market cap of the company is Rs. 35495.74 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 24.03% and 15.33% respectively.
Biocon has divested 5.4 per cent stake in its research arm -- Syngene International -- for a little over Rs 1,220 crore through an open market transaction. According to bulk deal data available with the BSE, the company has sold a total of 21,789,164 shares, at an average price of Rs 560.04 apiece, in Syngene International.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide
