Biocon Share Price: Biocon and Divi’s shares are showing good growth. A lot of momentum is being seen in both these stocks today. Motilal Oswal has given a buy rating on Biocon. Citi has given a buy opinion on Divi’s Labs. Shares of Biocon were seen trading at Rs 365.90, up 1.37 per cent or Rs 4.95 at 12 noon. At the same time, shares of Divi’s Lab were seen rising by 0.30 percent or Rs 17.20 and trading at Rs 5788.55. Explaining the reasons for the bullishness on both these stocks even in the falling market, Kanchan Nautiyal of CNBC-Awaaz said that today both the stocks are showing strength.
Kanchan further said that investors are focused on Divi’s Lab. The reason for this is that Citi has a buy opinion on this stock. Citi has set its target at Rs 6850. According to the city, the US Federal Circuit has overturned the District Court’s decision. According to this decision, patent expiry will continue even after July. The decision has postponed the generic launch to July 2025. Citi said the division supplies API to Novartis’ heart drug. Divi’s exports have increased by 24% in December. Exports in the December quarter were 9% higher than expected.
Talking on Biocon, Kanchan Nautiyal said that today the market is focused on this also. Motilal Oswal has upgraded rating on this stock. The brokerage has upgraded the rating and given a buy opinion on it. Motilal Oswal has given a target of Rs 430 on Divi’s Labs. According to him, getting a clean chit to the Malaysian plant will prove to be positive for the company. With this, the way for the production of B-Aspart was cleared. New products will be approved and launched in 2-3 years. According to the brokerage, 21% CAGR in EBITDA is possible during FY25-27.
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