Biocon slips on profit booking

Biocon fell 1.87% to Rs 494.60 at 13:50 IST on BSE on profit booking after the stock rose 8.45% in the preceding eight trading sessions to Rs 504 on 10 September 2014, from a recent low of Rs 464.75 on 28 August 2014.

Meanwhile, the BSE Sensex was down 1.96 points, or 0.01%, to 27,055.45.

On BSE, so far 1.08 lakh shares were traded in the counter, compared with an average volume of 1.48 lakh shares in the past one quarter.

The stock hit a high of Rs 507.45 and a low of Rs 489.60 so far during the day. The stock hit a record high of Rs 553.70 on 4 July 2014. The stock hit a 52-week low of Rs 319 on 17 September 2013.

The stock had outperformed the market over the past one month till 10 September 2014, rising 9.85% compared with 6.82% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 4.06% as against Sensex's 5.76% rise.

The large-cap company has an equity capital of Rs 100 crore. Face value per share is Rs 5.

On a consolidated basis, Biocon's net profit rose 10.06% to Rs 102.91 crore on 2.60% increase in total income to Rs 741.95 crore in Q1 June 2014 over Q1 June 2013.

Biocon is a fully-integrated, innovation led, emerging global biopharmaceutical enterprise serving customers in over 85 countries. It is committed to reduce therapy costs of chronic diseases, like autoimmune, diabetes, and cancer to enable access to affordable healthcare solutions for patients, partners and healthcare systems across the globe.

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