Biocon Stock Rises 10% in Three Days, Approaching 52-Week High
Biocon soars 10% in 3 days, stock nears 52-week high; here's why
Business Standard
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Biocon's stock price surged by 10% over three days, reaching ₹418.75 on the BSE, close to its 52-week high of ₹424.95. This increase follows Health Canada's approval of its micafungin injection, enhancing its biosimilars portfolio. Analysts project strong future growth driven by new product launches.
- 01Biocon's stock rose 10% in three days, reaching ₹418.75.
- 02The stock is nearing its 52-week high of ₹424.95.
- 03Health Canada approved Biocon's micafungin injection, boosting market confidence.
- 04Analysts expect a CAGR of 118% in earnings from FY26 to FY28.
- 05Brokerages maintain a 'BUY' rating with a target price of ₹506.
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Biocon's share price increased by 10% over the last three days, reaching ₹418.75 during intra-day trading on the Bombay Stock Exchange (BSE). This rise is attributed to the recent approval from Health Canada for its micafungin injection, which is used to treat invasive fungal infections in adults and children. The stock is now close to its 52-week high of ₹424.95, achieved on November 18, 2025. Over the past 12 trading sessions, Biocon's stock has appreciated by 20% from ₹349.65 on April 24, 2026. The company reported a 13% year-on-year growth in operating revenue for FY26, despite a challenging geopolitical environment, and achieved a 200 basis points expansion in EBITDA margins. Analysts predict a promising future for Biocon, with expectations of significant growth driven by new biosimilars and generics, alongside a robust product pipeline. Brokerages like Motilal Oswal and JM Financial have reiterated a 'BUY' rating, projecting strong earnings growth and an increase in EBITDA margins by 170 basis points to 23% by FY28E.
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The approval of the micafungin injection could lead to increased sales and profitability for Biocon, potentially benefiting shareholders and employees through improved financial performance.
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