Biocon can move up another 6% to 8%: Ambareesh Baliga

Ambareesh Baliga, VP Karvy Stock Broking Ltd, in a chat with ET Now speaks about Biocon.

A good news for Biocon and obviously the stocks duly reacting?

Absolutely, I think it is great news for the Biocon shareholders but again the way it has moved up possibly I think it can move up another 6% to 8% move from here.

Those who have been holding on to this stock for a long time, it has been a bit of a underperformer if you see in the last 1-1.5 years. So I think this is an opportunity for people to in fact book out to a certain extent.