Stock including RIL, Airtel, Vedanta, ONGC, Adani Energy, Lupin, Bharti Hexacom, Biocon and more may remain under the spotlight before the opening bell on Tuesday, August 6.

Stocks in news: RIL, Airtel, Vedanta, ONGC, Adani Energy, Lupin and Biocon

Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 40868.42 Crore) operating in Pharmaceuticals sector.

Buy Biocon, target price Rs 390: Axis Securities

Eris acquired Biocon Biologics’ domestic branded formulation business for Rs 1,242 crore in Q4FY24 and dermatology and nephrology units in Q3FY24

Eris Lifesciences net profit drops 4.5% to Rs 89 crore in Q1FY25

Biocon QIP News | Pharma Sector में बड़ा Action, QIP से ₹4000 Cr से ज्यादा जुटा सकती है कंपनी

Biocon Ltd is quoting at Rs 374.45, up 3.48% on the day as on 12:44 IST on the NSE. The stock is up 46.21% in last one year as compared to a 25.73% gain in NIFTY and a 43.88% gain in the Nifty Pharma.

Biocon Ltd spurts 3.48%, gains for five straight sessions

Syngene International, the contract research and manufacturing services arm of Biocon, reported 19% year-on-year (YoY) drop in net profit to Rs.76 crore in Q1FY25 led by discovery services revenue taking a hit due to funding constraints at US biotechs.

Syngene Q1 Results: Net profit drops 19% to Rs 76 crore

Kiran Mazumdar Shaw of Biocon welcomed Finance Minister Nirmala Sitharaman’s budget, stressing job creation through skilling and CSR-backed stipends. She praised the ‘angel tax’ removal, ‘ease of doing business’ for MSMEs, and Rs 1 lakh crore allocation for agritech and industrial research. Shaw also supported Customs duty removal on cancer drugs and suggested GST exemption for all cancer medications.

Union Budget has positive indicators on economic growth and development: Kiran Mazumdar Shaw

Budget: Biocon Founder Kiran Mazumdar Shaw Talks Exclusively With Rajdeep Sardesai On India Today

Mazumdar-Shaw’s only reservation with the budget was not hearing enough about GST rationalisations.

Budget 2024: Biocon’s Kiran Mazumdar-Shaw Positive On Budget, Stresses GST Rationalisation

Budget expectations: India’s Finance Minister, Nirmala Sitharaman, is set to present the country’s FY25 budget on July 23, marking the first of Modi 3.0’s first budgets. The budget is expected to focus on rural schemes to boost consumption, benefiting companies like Hindustan Unilever, TVS Motor, and Hero MotoCorp. A less than 5-7 per cent increase in tobacco taxes could be beneficial for ITC, while production-linked incentive schemes could benefit Dixon Technologies, Ideaforge Technology, and Biocon.

Budget 2024: These sectors are the potential winners and losers of Modi 3.0 budget

Karnataka’s Industry & Infrastructure Minister MB Patil rushed to address concerns over a proposed bill to provide quotas for Kannadigas in the private sector, amidst backlash from industry leaders. Biocon founder Kiran Mazumdar-Shaw emphasised the need for skilled talent without hindering the state’s tech industry. Former Infosys director TV Mohandas Pai criticized the bill as discriminatory and regressive. Assocham co-chairman RK Mishra slammed the bill as detrimental to the Indian IT sector. Patil assured that the bill will be reviewed in consultation with key ministers to protect the interests of Kannadigas and industries.

Karnataka Industries Minister jumps to douse fire as top industrialists slam bill for jobs for locals

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Biocon Limited is a biopharmaceutical company engaged in the research & development and manufacture of pharmaceuticals, medicinal chemical and botanical products. 

Biocon Ltd