Latest Stock Market News

A total of 8,402 shares changed hands on the counter till 12:12PM (IST).

The stock with a market capitalisation of more than Rs 37,000 cr hit a 52-week high of Rs 5,958 on 4 January 2022 but the trend went sideways post that. It has fallen over 36 per cent to hit Rs 3,773 on 18 May 2022.

Biocon’s share price climbed to a high of Rs 334.70 as against Rs 322.95 at previous close on the BSE.Abevmy is a recombinant humanized monoclonal antibody that selectively binds to human vascular endothelial growth factor (VEGF) and neutralizes its biologic activity. Abevmy (bBevacizumab), inhibits the formation of tumor

On the technical charts, the 200-day moving average of the stock stood at Rs 1946.19.

“I do not own any crypto currency. I wish I had bought Bitcoin at $1, at $5. I do not have great confidence in the future of government crypto currencies. I have optimism about the future of crypto money but not government crypto money is not competing crypto money. Governments do not like competition; they like to keep their monopoly.”

As of 31-Mar-2022, promoters held 49.5 per cent stake in the company, while FIIs held 28.23 per cent and domestic institutional investors had 0.69 per cent.

The global cryptocurrency market cap was trading higher at the $1.28 trillion mark, jumping more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume added about a per cent to $82.39 billion.

Nifty50 now trades at a 12-month forward PE ratio of 17.5 times, which is in line with the pre-Covid three-year average and just marginally above the pre-Covid five-year average of 16.9 times.

“There will be a transition. I do not even blame startup founders as much as I blame the VCs and the PEs who pumped money into these companies and expected these startup founders to grow at no cost. Once anybody has too many investors on their board or on their cap table, it becomes less about what the startup founder wants but more about what the plethora of investors are asking or expecting of him.”

A total of 907,460 shares changed hands on the counter till 11:01AM (IST)