Biocon sweetens after fixing record date for bonus issue

Biocon rose 1.15% to Rs 1,010 at 10:05 IST on BSE after the company fixed 17 June 2017 as the record date for issue of bonus shares.

The announcement was made after market hours yesterday, 7 June 2017.

Meanwhile, the S&P BSE Sensex was down 21.05 points, or 0.07% to 31,250.23

On the BSE, 19,000 shares were traded in the counter so far, compared with average daily volumes of 79,738 shares in the past one quarter. The stock had hit a high of Rs 1,012.80 and a low of Rs 1,003.55 so far during the day. The stock hit a 52-week high of Rs 1,188 on 25 April 2017. The stock hit a 52-week low of Rs 689 on 19 July 2016.

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

Biocon had declared 2:1 bonus issue (2 bonus shares for every share held) at its board meeting held on 27 April 2017.

On a consolidated basis, net profit of Biocon declined 61.71% to Rs 127.50 crore on 1.53% decline in net sales to Rs 919.20 crore in Q4 March 2017 over Q4 March 2016.

Biocon is India's largest and fully-integrated, innovation-led biopharmaceutical company.

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