Biocon shares drop 1.69% as Sensex rises :shivpurinews.in

Shares of Ltd. traded 1.69 per cent lower in Wednesday’s session at 01:52PM (IST). The stock opened at Rs 362.0 and has touched an intraday high and low of Rs 362.0 and Rs 351.65, respectively, during the session so far.

The stock quoted a 52-week high of Rs 487.7 and a 52-week low of 327.75. About 546,677 shares changed hands on the counter so far.

Benchmark Nifty50 was up 189.25 points at 18181.20, while the BSE Sensex traded 506.56 points higher at 60790.87 at the time of writing of this report.



In the Nifty pack, 38 stocks traded the day in the green, while 12 were in the red.

Key Financials

For the quarter ended 30-Jun-2021, the company reported consolidated sales of Rs 1807.8 crore, down 11.56 per cent from the previous quarter’s Rs 2044.1 crore and down 7.0 per cent from the year-ago quarter. The company reported net profit of Rs 84.4 crore for the latest quarter.


Promoter Holdings

Promoters held 60.64 per cent stake in the company as of 30-Sep-2021, while FIIs held 16.3 per cent and MFs 2.58 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 395.05 on October 13, while the 50-DMA was at Rs 362.93. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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