Biocon shares up 0.17% as Nifty drops

Biocon shares up 0.17% as Nifty drops
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Synopsis

A total of 35,513 shares changed hands on the counter till 01:37PM (IST).

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Analysts said Nifty faced stiff resistance near 9,500 on Friday and remained mostly rangebound between 9,000 and 9,500 levels.

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NEW DELHI: Shares of Ltd. traded 0.17 per cent up in Wednesday's trade at 01:37PM (IST). Around 35,513 shares changed hands on the counter.

The scrip opened at Rs 385.0 and touched an intraday high and low of Rs 387.4 and Rs 383.05, respectively, in the session so far. The stock of Biocon Ltd. quoted a 52-week high of Rs 487.7 and a 52-week low of Rs 326.35.

Total market cap of the Biocon Ltd. stood at Rs 46296.0 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 2044.1 crore for the quarter ended 31-Mar-2021, up 8.79 per cent from previous quarter's Rs 1878.9 crore and up 24.33 per cent from the year-ago quarter's Rs 1644.1 crore.

The net profit for latest quarter stood at Rs 253.2 crore, up 105.19 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2021, domestic institutional investors held 2.51 per cent stake in the firm, while foreign institutional investors held 16.79 per cent and the promoters 60.67 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 62.52 and a price-to-book ratio of 4.84. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Biocon Ltd. belongs to the Pharma - Indian industry.

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