Liberal bonus boosts Biocon

Biocon rose 4.91% to Rs 529.65 at 10:45 IST on BSE after its board recommended bonus issue in the ratio of 1:1.

The company announced the bonus ratio during trading hours today, 22 April 2008. It also announced its Q4 results today.

The stock hit a high of Rs 551.50 and a low of Rs 494.85 so far during the day. The stock had a 52-week high of Rs 663.30 on 15 November 2007 and a 52-week low of Rs 345 on 22 January 2008.

From its recent low of Rs 429.10 on 8 April 2008 stock rose 17.65% to Rs 504.85 on 21 April 2008.

The mid-cap scrip had outperformed the market over the past one month till 21 April 2008, gaining 27.25% compared to the Sensex's return of 11.63%. It had also outperformed the market in the past one quarter, rising 22.49% compared to Sensex's rise of 0.06%.

The company's current equity is Rs 50 crore. Face value per share is Rs 5.

The current price of Rs 529.65 discounts its Q3 December 2007 annualised EPS of Rs 113.61, by a PE multiple of 4.66.

The company's net profit rose 31.19% to Rs 62.03 crore on 1.96% decline in total income to Rs 236.71 crore in Q4 March 2008 over Q4 March 2007.

Biocon is India's leading biotechnology enterprise. Over the past 28 years, it has evolved from an enzyme manufacturing company to a fully integrated biopharmaceutical enterprise, focused on healthcare.