InvestorQ : Is the worst over for the Biocon stock? Can I buy now?
diksha shah made post

Is the worst over for the Biocon stock? Can I buy now?

Answer
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4 weeks ago
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That is a tough call but the reality is that the stock of Biocon has just hit a 2-year low of Rs312. Effectively, this Bengaluru based pharma and biotech stock has lost 18% since it reported a 4% fall in net profits in Q4FY22. However, it had reported robust revenues from operations up 31% in Q4FY2. If you look at the Biocon stock over the last 1 year, it has fallen 22% at a time when the Nifty index is up over 30%.

Coming to your query, the timing is in your hands, but there is a case to buy the stock at lower levels. Also, not all brokers are pessimistic. Biocon has a number of positive triggers at this point. They include the Serum Vaccine distribution alliance and the proposed launch of multiple biosimilars. Biocon also plans to become an extremely strong and dominant player in immunosuppressants API, a high opportunity low-competition segment.

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