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Jefferies downgrades Biocon to 'underperform', sees 11% downside; here's why

Jefferies has downgraded the pharma stock Biocon to 'underperform' from 'hold'. However, Jefferies has maintained its target price of ₹250 for the stock, implying an 11 percent downside from its current market price of ₹281.50.

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Biocon reports 95% growth in profit at Rs 257 cr in Q4FY21

Biocon's revenue for the said quarter stood at Rs 2,044 crore, showing a growth of 26 per cent. Its EBITDA grew 68 per cent to Rs 641 crore in Q4 of the financial year

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