ICICI Direct has given Hold recommendation for Biocon with a target price of Rs. 390 in its research report issued on Mar 04, 2022

ICICI Direct’s research report on Biocon

Biocon is a leading biopharma company operating in biologics, contract research (Syngene), small molecules and branded formulations. Biosimilar US pipeline: (approvals – Pegfilgrastim, Trastuzumab, Glargine, Adalimumab); filed – Aspart and Bevacizumab. Revenue breakup FY21: biosimilars (37%), generics (31%), CRAMS (29%).


We value Biocon at Rs 390 on SOTP basis.

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At 11:46 hrs Biocon was quoting at Rs 330.55, down Rs 9.55, or 2.81 percent.

It has touched an intraday high of Rs 340.45 and an intraday low of Rs 328.85.

It was trading with volumes of 147,153 shares, compared to its thirty day average of 204,339 shares, a decrease of -27.99 percent.

In the previous trading session, the share closed down 1.36 percent or Rs 4.70 at Rs 340.10.

The share touched its 52-week high Rs 424.10 and 52-week low Rs 314.90 on 09 April, 2021 and 25 October, 2021, respectively.

Currently, it is trading 22.06 percent below its 52-week high and 4.97 percent above its 52-week low.

Market capitalisation stands at Rs 39,685.83 crore.

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