Biocon shares fell 6.67% this week, closing at ₹322.50 on February 21, 2025. The stock experienced a cumulative decline of ₹23.05 over the week, impacted by overall market volatility and sectoral corrections in pharmaceuticals.
Biocon’s Weekly Share Price Performance
| Day | Open (₹) | Close (₹) | Change (%) |
|---|---|---|---|
| Fri, Feb 21 2025 | 336.00 | 322.50 | -4.02% |
| Thu, Feb 20 2025 | 335.00 | 336.00 | -0.24% |
| Wed, Feb 19 2025 | 336.10 | 336.80 | -0.41% |
| Tue, Feb 18 2025 | 351.10 | 338.20 | -2.69% |
| Mon, Feb 17 2025 | 349.30 | 347.55 | -0.52% |
| Fri, Feb 14 2025 | 362.75 | 349.35 | -2.77% |
| Thu, Feb 13 2025 | 358.20 | 359.30 | +0.94% |
| Wed, Feb 12 2025 | 360.95 | 355.95 | -1.67% |
Key Company Update: European Commission Grants Approval for YESINTEK
Biocon Biologics Ltd (BBL), a fully integrated global biosimilars company and subsidiary of Biocon Ltd, announced that the European Commission (EC) granted marketing authorisation in the European Union (EU) for YESINTEK, a biosimilar of Ustekinumab.
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YESINTEK is approved for treating:
- Plaque psoriasis (adults and children)
- Psoriatic arthritis (adults)
- Crohn’s disease (adults)
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Clinical trials confirmed YESINTEK’s safety and efficacy were comparable to the originator product.
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The marketing authorisation approval followed a positive opinion from the European Medicines Agency’s CHMP on December 14, 2024.
Market Commentary: Indices End on a Weak Note
The broader market ended Friday’s session in the red, with the Sensex falling 420 points and the Nifty closing below 22,800 at 22,795.90 (-0.51%).
Sectoral Performance:
- 12 out of 13 major sectoral indices closed in the red.
- Nifty Metal was the only gainer, rising 1%.
- Nifty Auto fell 2.5%, as reports of a potential import duty cut on EVs from 110% to 15% raised concerns about Tesla’s India entry.
- Mahindra & Mahindra, Tata Motors, and TVS Motors were among the biggest losers.
Technical Outlook on Nifty & Bank Nifty
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Nifty formed a bearish candle and broke its three-day low, signaling a continuation of the downtrend.
- Key Support: 22,700 (a break below this may trigger further declines towards 22,500-22,400).
- Resistance: 23,050, with any hold above 22,700 leading to consolidation.
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Bank Nifty:
- Closed at 48,981, forming a bearish red candle.
- Key Support: 48,500-48,300 (holding above this may trigger a pullback towards 50,000 levels
