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Biocon Plunges 3%; BSE HEALTHCARE Index Down 0.7%
Thu, 18 Jul 12:1

Biocon Plunges 3%; BSE HEALTHCARE Index Down 0.7%Image source: phive2015/www.istockphoto.com

Biocon share price has plunged 3% and is presently trading at Rs 342.9.

Meanwhile, the BSE HEALTHCARE index is at 38,491.8 (down 0.7%).

Among the top losers in the BSE HEALTHCARE index today are HIKAL CHEMIC (down 2.7%) and Aurobindo Pharma (down 2.6%).

Pfizer (up 2.5%) and ERIS LIFESCIENCES (up 2.0%) are among the top gainers today.

Over the last one year, Biocon has moved up from Rs 265.0 to Rs 342.9, registering a gain of Rs 78.0 (up 29.4%).

On the other hand, the BSE HEALTHCARE index has moved up from 26,443.1 to 38,491.8, registering a gain of 45.6% during the last 12 months.

The top gainers among the BSE HEALTHCARE index stocks during this same period were Glenmark Pharma (up 101.8%), Lupin (up 95.8%) and Cadila Healthcare (up 94.2%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,537.6 (down 0.2%).

The top losers among the BSE Sensex today are Asian Paints (down 2.0%) and NTPC (down 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,553.2 (down 0.2%). Bajaj Auto and Hero Motocorp are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,537.6, registering a gain of 13,947.7 points (up 20.9%).

Biocon Financial Update...

Biocon net profit fell 50.4% YoY to Rs 2,256 million for the quarter ended March 2024, compared to a profit of Rs 4,546 million a year ago. Net sales rose 3.8% to Rs 39,171 million during the period as against Rs 37,739 million in January-March 2023.

For the year ended March 2023, Biocon reported 16.7% decrease in net profit to Rs 6,430 million compared to net profit of Rs 7,716 million during FY22. Revenue of the company grew 36.5% to Rs 111,742 million during FY23.

The current Price to earnings ratio of Biocon, based on rolling 12 month earnings, stands at 29.8.

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