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The stock traded at a P/E multiple of 62.05, while the price-to-book value ratio stood at 2.34.

A total of 12,474 shares changed hands on the counter till 12:53PM (IST).

The stock traded at a P/E multiple of 60.61, while the price-to-book value ratio stood at 5.07.

"Every one of our individual businesses is at an inflection point of high growth. Peter Bains, who is a veteran when it comes to the pharma and biopharma industry in terms of his global experience, also understands the Biocon Group because he has basically played a very key role in Syngene. Through Syngene, he has understood the entire Biocon business very well."

Cochin Shipyard shares hit their 52-week high of Rs 1258.50 on September 8 and since then they have seen corrections in six successive trading sessions on the closing price basis as investors have looked to book profits after a big rally in an otherwise buoyant stock markets.

The brokerage values CIPLA at 25x 12Mforward earnings and add NPV of INR30 related to g-Revlimid to arrive at its TPof INR1,420.

The paper concluded that asset allocation explained 93.6% of the variation in a portfolio’s return. In 1991, an update to this study was published which confirmed the findings of the original study and concluded that asset allocation explained 91.5% of return variance.

"So long as the company continues to deliver on the quarterly front and the fundamentals have not changed, the underlying growth momentum has not changed, it is best to remain invested. I can tell from decades of experience, that you get multibagger returns by just staying put for three years, four years, five years and not trying to do this entry exit kind of a strategy. "

A total of 3,015 shares changed hands on the counter till time (IST).

Powell has signaled that Fed leaders would prefer to wait to evaluate the impact of past increases on the economy as they near the end of their rate-hiking campaign. With inflation still well above the committee’s 2% target and the US economy resilient, officials may pencil in one more hike in their quarterly projections.