Shares of Biocon rise as Nifty drops

Shares of Ltd. gained 0.67 per cent to Rs 412.0 in Monday's trade as of 11:52AM (IST). It hit a high of Rs 414.3 and low of Rs 405.45 during the session.

The stock quoted a 52-week high price of Rs 487.7 and a low of Rs 363.3. The return on equity for the stock stood at 9.83 per cent. About 297,874 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.98.

The scrip has been an underperformer, down 4.49 per cent in the past one year in comparison with a 42.51 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 363.3 on July 19, while the 50-DMA was at Rs 394.97. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 39.73 per cent stake in Biocon Ltd. as of 30-Jun-2021. Mutual funds and foreign institutional investors held 2.6 per cent and 15.91 per cent stake.