Biocon share price climbs 5% after block deals on NSE, BSE; key details
Biocon stock rose 4.96 per cent to Rs 430.95 apiece after sources had earlier indicated that the floor price for the block deal was set at Rs 378.50 per share, implying a 7.9 per cent discount to Biocon's Monday closing price.
- Jul 14, 2026,
- Updated Jul 14, 2026 9:34 AM IST
Biocon Ltd rose 5 per cent in Tuesday's trade after 4,59,83,509 shares worth Rs 1,839.34 crore changed hands in a block deal on the NSE. On the BSE, another 4,59,83,510 shares worth Rs 1,839.34 crore changed hands in a separate block deal. The shares were transacted at Rs 400 apiece on both exchanges, a 2.66 per cent discount to Monday's closing price of Rs 410.95.
Mylan Inc was the likely selling shareholder, though the actual details of sellers and buyers will be available on stock exchanges post market hours.
Biocon stock rose 4.96 per cent to Rs 430.95 apiece after sources had earlier indicated that the floor price for the block deal was set at Rs 378.50 per share, implying a 7.9 per cent discount to Biocon's Monday closing price of Rs 410.95.
Citigroup Global Markets India and Jefferies India were said to be joint bookrunners for the transaction. A total of up to 9.2 crore shares, representing a 5.64 per cent stake in Biocon, were expected to be sold through the block deal. While block deal data on NSE showed 1,839.34 crore worth shares changing, a similar turnover was visible on BSE.
Mylan Inc, a part of Viatris, held 9,19,67,019 shares or 5.64 per cent stake in Biocon at the end of June quarter.
The stake sale comes ahead of Biocon's Q1 results. Kotak Institutional Equities expects the pharma major to report 20 per cent year-on-year (YoY) and 7 per cent quarter-on-quarter (QoQ) growth in core biosimilars sales, led by market share gains across key products, including the ramp-up of bStelara in the US, aided by Denosumab launch.
"We bake in a 4 per cent YoY decline for Syngene. In the generics segment, we bake in 22 per cent YoY growth (flat QoQ) in 1QFY27, led by continued benefits from Liraglutide launch in the UK and EU markets. On an overall basis, we build in 15 per cent YoY topline growth to Rs 4520 crore," Kotak said
The brokerage is building in 360 basis points YoY decline in gross margins to 68 per cent, down 100 bps QoQ,. It expects Biocon's Ebitda to grow 28 per cent YoY to Rs 960 crore for the quarter. We build in 220 bps YoY expansion in Ebitda margin to 21.2 per cent (down 140 bps QoQ)," it said.
In its earnings preview, Axis Securities assumed 15 per cent YoY growth in the Research segment and 6 per cent growth in Generics segment due to some approval Americas. The focus would be on improving margins rather than sales, it said.
"Biosimilars are projected to deliver 10 per cent YoY growth, supported by new launches such as Insulin Aspart, Yesafili, Denosumab biosimilars, and Liraglutide in the UK. In Malaysia, the Drug Product (DP) Line 2 is currently being qualified and will become operational soon, while the Drug Substance (DS) capacity doubling is expected to conclude toward FY27 end," the brokerage noted.
Biocon Ltd rose 5 per cent in Tuesday's trade after 4,59,83,509 shares worth Rs 1,839.34 crore changed hands in a block deal on the NSE. On the BSE, another 4,59,83,510 shares worth Rs 1,839.34 crore changed hands in a separate block deal. The shares were transacted at Rs 400 apiece on both exchanges, a 2.66 per cent discount to Monday's closing price of Rs 410.95.
Mylan Inc was the likely selling shareholder, though the actual details of sellers and buyers will be available on stock exchanges post market hours.
Biocon stock rose 4.96 per cent to Rs 430.95 apiece after sources had earlier indicated that the floor price for the block deal was set at Rs 378.50 per share, implying a 7.9 per cent discount to Biocon's Monday closing price of Rs 410.95.
Citigroup Global Markets India and Jefferies India were said to be joint bookrunners for the transaction. A total of up to 9.2 crore shares, representing a 5.64 per cent stake in Biocon, were expected to be sold through the block deal. While block deal data on NSE showed 1,839.34 crore worth shares changing, a similar turnover was visible on BSE.
Mylan Inc, a part of Viatris, held 9,19,67,019 shares or 5.64 per cent stake in Biocon at the end of June quarter.
The stake sale comes ahead of Biocon's Q1 results. Kotak Institutional Equities expects the pharma major to report 20 per cent year-on-year (YoY) and 7 per cent quarter-on-quarter (QoQ) growth in core biosimilars sales, led by market share gains across key products, including the ramp-up of bStelara in the US, aided by Denosumab launch.
"We bake in a 4 per cent YoY decline for Syngene. In the generics segment, we bake in 22 per cent YoY growth (flat QoQ) in 1QFY27, led by continued benefits from Liraglutide launch in the UK and EU markets. On an overall basis, we build in 15 per cent YoY topline growth to Rs 4520 crore," Kotak said
The brokerage is building in 360 basis points YoY decline in gross margins to 68 per cent, down 100 bps QoQ,. It expects Biocon's Ebitda to grow 28 per cent YoY to Rs 960 crore for the quarter. We build in 220 bps YoY expansion in Ebitda margin to 21.2 per cent (down 140 bps QoQ)," it said.
In its earnings preview, Axis Securities assumed 15 per cent YoY growth in the Research segment and 6 per cent growth in Generics segment due to some approval Americas. The focus would be on improving margins rather than sales, it said.
"Biosimilars are projected to deliver 10 per cent YoY growth, supported by new launches such as Insulin Aspart, Yesafili, Denosumab biosimilars, and Liraglutide in the UK. In Malaysia, the Drug Product (DP) Line 2 is currently being qualified and will become operational soon, while the Drug Substance (DS) capacity doubling is expected to conclude toward FY27 end," the brokerage noted.