Biocon gets booster dose on bonus share issue

DALAL STREET SPIKES

Biotechnology major Biocon On Tuesday surged 5.18 per cent to close at Rs 403.05 after the company fixed September 12 as the record date for issue of bonus shares in the ratio of 1:1. After opening the day flat at Rs 382, the stock touched an intraday high of Rs 405.50 and a low of Rs 379.05.

The counter witnessed volumes of 71,077 shares changing hands as against the two-week average of 39,503 shares. The mid-cap company had under-performed the market in the past one month, gaining 1.54 per cent against the Sensex’s return of 12.93 per cent.