Biocon Stock

Stocks to Buy Today: Ajit Mishra of Religare Broking suggests buying Biocon shares and Marico shares. He also suggests shorting Asian Paints shares

Stocks to buy today, Jan 15: Bajaj Finance share price is on the verge of a breakout from a flag and pole pattern on the daily chart with higher-than-average buying volumes

The overall market trend has been negative with over 60% of the Nifty Mid- and Small-Cap stocks now trading below the long-term moving averages; however, these 5 stocks continue to buck the trend.

Notably, Biocon share price has surged about 6 per cent in the last two sessions

Shares of Biocon were in high demand on Monday after the pharmaceutical company's subsidiary Biocon Biologics' Johor Bahru facility in Malaysia was classified as "Voluntary Action Indicated"

Biocon Biologics Ltd had previously notified on February 29, 2024, that the company had entered into a settlement and licensing agreement with Janssen

The surge in Biocon share price came after the company announced that United States Food and Drug Administration (USFDA) has classified Biocon Biologics' Biocon Park Site in Bengaluru as VAI

Shares of pharmaceutical company Biocon tanked 5.96 per cent at Rs 301.65 a piece on the BSE

Stocks to Watch, October 31, 2024: L&T's revenue up 20.63 per cent at Rs 61,554 crore versus Rs 51,024 crore. Ebitda up 12.94 per cent at Rs 6,362 crore versus Rs 5,633 crore

Revenue driven by gains from US Oncology and Insulins franchises

The pharma sector is showing notable resilience, with Biocon taking the lead. The stock has broken out from a bullish rectangle pattern, accompanied by a strong surge in volumes

Biotechnology firm Biocon said its subsidiary has received approval from the US health regulator to market a generic medication to treat chronic heart failure. Biocon Pharma has received approval of its ANDA for Sacubitril/Valsartan Tablets, in 24 mg/26 mg, 49 mg/51 mg and 97 mg/103 mg strengths, from the US Food and Drug Administration (USFDA), the company said in a regulatory filing. Sacubitril and valsartan combination is used to treat chronic heart failure in adults to help reduce the risk of death and hospitalisation. The medicine is also used to treat paediatric patients over the age of one year. The approval further adds to Biocon's portfolio of vertically integrated, complex drug products, the company said.

Total revenue stood at Rs 4,567 crore in Q1 FY25 as against Rs 3,516 crore in Q1 FY24

On the previous day, US markets settled higher, with Nasdaq and S&P 500 reaching record highs

Stocks to watch on June 04: RVNL has secured an engineering, procurement and construction order worth Rs 440 crore from South Central Railway

Bengaluru-based company announces 'strategic partnership' with Handok

European markets closed on a negative note, with Germany's DAX falling 0.22 per cent and the UK's FTSE dropping 0.09 per cent

At 6:51 AM, GIFT Nifty futures showed a rise of 26 points, trading at 22,478 levels, signaling a subdued start for the stock exchanges

Biocon Ltd on Friday said it has been imposed a penalty of over Rs 3 crore over GST-related issues. The company has received an order of adjudication imposing a penalty of Rs 3,03,78,465 dated February 22, 2024, from the office of Deputy Commissioner of Commercial Taxes, Divisional GST Office, Bangalore, Biocon Ltd said in a regulatory filing. The demand is related to input tax credit reporting error in GST monthly returns, denial of input tax credit on sales and promotional expenditures, valuation issue GST under corporate guarantee, and denial of exemption on export of services, it added. Biocon further said it is "in the process of taking appropriate actions, including but not limited to, filing of the necessary appeal with the appellate authority in this regard". There is no material impact on the financials, operations or other activities of the company, the filing said.

The partnership will provide Sandoz the exclusive rights to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia