Buy Biocon With Stoploss Of Rs 289
Stock market analysts have maintained 'buy' rating on Biocon Ltd with an intraday target of Rs 299.
According to them, interested traders can purchase the stock with a strict stop loss of Rs 289.
If the bourses remain on the positive track, then the stock price will hit a target above Rs 305.
Shares of the company, on Wednesday (Dec 09), closed at Rs 293.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 298.40 and a low of Rs 90.10 on BSE.
Current EPS & P/E ratio of the stock stood at 13.61 & 21.22 respectively.
Biocon Ltd, on Dec 01, has declared that it has finished the acquisition terms of the bulk pharmaceutical business project of IDL Specialty Chemicals, situated near Hyderabad.
Biocon signed up a definitive contract for the abovementioned acquirement.
Biocon is a research-driven, international healthcare company with a strong matrix of capacities along the biopharmaceutical value chain.
The company believes that their strategic licensing affiliations will speedily provide them wider access and superior market penetration.