Biocon shares up on Syngene stake purchase

Reuters Market Eye - Biocon Ltd shares up 1 percent.* The drugmaker has agreed to buy a 7.7 percent stake in its research services business from a unit of GE Capital.

Biocon would fully own Syngene after the stake purchase.

The move is seen as a precursor to potential listing of Syngene, traders say.

(Reporting by Abhishek Vishnoi)