Biocon Ltd shares gained over 5% in early trade on Tuesday after a large block deal worth about Rs 3,676 crore took place in the counter, with around 9.19 crore shares changing hands at nearly Rs 400 apiece. The stock opened at 3.99% at Rs 427. 35 and rose steadily as the day progressed.
Mylan held a 5.64% stake in Biocon as of June 2026, and the transaction marks the complete sale of its holding in the biotechnology company.
Mylan's stake in Biocon came after Biocon completed the acquisition of Mylan's holding in Biocon Biologics earlier this year through a mix of share swap and cash consideration. As part of that transaction, Mylan received a preferential allotment of Biocon shares.
Based on the transaction price and volume, the total deal size makes it one of the larger block transactions in the market on the day. The block deal has marked Mylan's complete exit from the biotechnology major, ending its long-standing shareholding in the company.
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Biocon Ltd. Share Price Today
Biocon Share Price Today
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The scrip rose as much as 5.61 to Rs 434 apiece intraday on Tuesday. It pared gains to trade 5.34 lower at Rs 432.90 apiece, as of 9:30 am. This compares to a 0.32% fallin the NSE Nifty 50 Index.
It has risen 14.22% in the last 12 months and 9.93% year-to-date. Total traded volume so far in the day stood at 3.69 times its 30-day average. The relative strength index was at 50.86.
Out of 19 analysts tracking the company, 10 maintain a 'buy' rating, three maintain a "hold", and six maintain a "sell" rating, according to Bloomberg data. The average 12-month consensus price target of Rs 429.06 implies an upside of 4.48%
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