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Biocon Plunges 3%; BSE HEALTHCARE Index Down 0.6%
Wed, 14 Aug 9:43

Biocon Plunges 3%; BSE HEALTHCARE Index Down 0.6%Image source: StarLineArts/www.istockphoto.com

Biocon share price has plunged 3% and is presently trading at Rs 326.6.

Meanwhile, the BSE HEALTHCARE index is at 40,804.0 (down 0.6%).

Among the top losers in the BSE HEALTHCARE index today are Divis Laboratories (down 2.8%) and Natco Pharma (down 2.7%).

AJANTA PHARMA (up 3.8%) and APOLLO HOSPITALS (up 1.0%) are among the top gainers today.

Over the last one year, Biocon has moved up from Rs 254.6 to Rs 326.6, registering a gain of Rs 72.1 (up 28.3%).

On the other hand, the BSE HEALTHCARE index has moved up from 27,819.2 to 40,804.0, registering a gain of 46.7% during the last 12 months.

The top gainers among the BSE HEALTHCARE index stocks during this same period were GRANULES INDIA (up 128.1%), GSK Pharma (up 99.9%) and SUVEN PHARMACEUTICALS (up 95.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,919.4 .

The top losers among the BSE Sensex today are Ultratech Cement (down 2.2%) and MUNDRA PORT & SEZ (down 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,119.2 (down 0.1%). Hero Motocorp and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 78,919.4, registering a gain of 13,517.5 points (up 20.7%).

Biocon Financial Update...

Biocon net profit grew 373.3% YoY to Rs 8,618 million for the quarter ended June 2024, compared to a profit of Rs 1,821 million a year ago. Net sales rose 0.3% to Rs 34,329 million during the period as against Rs 34,226 million in April-June 2023.

For the year ended March 2024, Biocon reported 101.8% increase in net profit to Rs 12,978 million compared to net profit of Rs 6,430 million during FY23. Revenue of the company grew 32.1% to Rs 147,557 million during FY24.

The current Price to earnings ratio of Biocon, based on rolling 12 month earnings, stands at 19.0.


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