Latest Stock Market News

“Companies like Infosys, TCS, HCL Tech are looking compelling from an investment perspective and given the cash flows that they have, the balance sheet strength that they have and the kind of buyback that they have announced, the risk reward is turning far more favourable. We would be using this dip as some sort of accumulation opportunity for investors.”

A total of 13,702 shares changed hands on the counter till 01:54PM (IST)

“In addition to financial and legal due diligence, a lot of investors have started now doing intellectual due diligence of the founders on integrity and what they are building. So it is time for behaviourial change to happen on the VCs side and which is now happening and we will see that happen.”

Promoters held 74.99 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 8.83 per cent and 6.25 per cent, respectively.

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.