Biocon shares gain 2% as Japan partner launches Ustekinumab biosimilar

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Biocon shares gain 2% as Japan partner launches Ustekinumab biosimilar - Business Standard

Quick Summary:

Shares of the company were trading range-bound since the beginning of the month and have risen over 13 per cent from its recent lows of ₹299, which it hit in April.

The company’s profit before tax (PBT) stood at ₹487 crore, up 53 per cent Y-o-Y.

The stock pared gains to trade 1.61 per cent higher at ₹337.8 apiece, compared to a 0.9 per cent advance in Nifty 50 as of 10:25 AM.