Biocon advanced 3.74% to Rs 332.55, extending gains for second day.
The stock has added 4.99% in two sessions, from its recent closing low of Rs 316.75 recorded on 7 June 2022.
The stock has declined 17.90% in the past one year while the benchmark Sensex has added 5.80% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 49.996. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day, 100-day and 200-day moving average (DMA) placed at 343.47, 354.27 and 355.97, respectively.
Biocon is a global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune.
The company reported 6% fall in consolidated net profit to Rs 239 crore on a 31% rise in revenue from operations to Rs 2,409 crore in Q4 FY22 over Q4 FY21.
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