Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Biocon Ltd with a target price of Rs 195 in the coming days.

The company is presently trading around Rs 166-171 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 171 levels, but after that it can even have more upward movement. This stock has been consolidating above its 200-day moving average of 140 and is now giving a sign of revival.

The scrip has very strong support at Rs 150-140.

Shares of the company, on Thursday (May 21), closed at Rs 163.15 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 249.35 and a low of Rs 86.55 on BSE. Current EPS and P/E of the stock stood at 5.59 & 30.91 respectively.

Kiran Mazumdar Shaw, chairman and managing director (CMD), Biocon has been bagged the high-status `Nikkei Asia Prize` 2009 for provincial growth.

Japan`s famous business daily Nihon Keizai Shimbun (Nikkei) awards Nikkei Asia Prizes every twelve months to persons or organizations from Asia Pacific region, accrediting exceptional achievements, which develop the quality of life in Asia.

Biotechnology major Biocon has decided to appoint 500 more people to its staff during the existing fiscal citing a new drug pipeline and requirements on the R&D front.

Biocon will add about 300 people, while Syngene, the firm's contract research division, will hire another 100.

Clinigene, the clinical research organization, will hire 25. The overall manpower across the group will thus augment to 4,000.

Presently, Biocon has around 3,500 people.

Biocon's research work includes development of insulins, oncology drugs among others.

In 2008, Biocon added on a new cardiology segment for which it had hired 250 people.