Buy Biocon, target price Rs 390: Axis Securities

Axis Securities has buy call on Biocon with a target price of Rs 390. The current market price of Biocon is Rs 339.15.
Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 40868.42 Crore) operating in Pharmaceuticals sector.

Biocon Ltd. key Products/Revenue Segments include Bio Pharmaceuticals, Other Operating Revenue, Waste and Sale of services for the year ending 31-Mar-2024.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 3965.70 Crore, down -12.25 % from last quarter Total Income of Rs 4519.20 Crore and up .94 % from last year same quarter Total Income of Rs 3928.80 Crore. Company reported net profit after tax of Rs 225.60 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.64 per cent stake in the company as of 30-Jun-2024, while FIIs owned 5.9 per cent, DIIs 14.27 per cent.