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What is the story about?
Shares of Biocon Ltd. gained as much as 3% after Finance Minister Nirmala Sitharaman announced an allocation of ₹10,000 crore under the "Biopharma Shakti" program for the next five years.
FM Sitharaman made this announcement on the floor of the Lok Sabha during her ninth consecutive Budget speech on Sunday, February 1.
FM Sitharaman said in her speech that Biologics are key to longevity and the plan is to develop India as a Biopharma manufacturing hub.
Along with this, the focus will also be on a Biopharma-focused network.
Along with Biocon, shares of Piramal Pharma, Sun Pharma and Dr. Reddy's Laboratories also gained between 1% to 2%.
Shares of Biocon are trading 2.3% higher at ₹375, while those of Piramal Pharma are trading 1.3% higher at ₹156.6.
To be updated with more.
FM Sitharaman made this announcement on the floor of the Lok Sabha during her ninth consecutive Budget speech on Sunday, February 1.
FM Sitharaman said in her speech that Biologics are key to longevity and the plan is to develop India as a Biopharma manufacturing hub.
Along with this, the focus will also be on a Biopharma-focused network.
Along with Biocon, shares of Piramal Pharma, Sun Pharma and Dr. Reddy's Laboratories also gained between 1% to 2%.
Shares of Biocon are trading 2.3% higher at ₹375, while those of Piramal Pharma are trading 1.3% higher at ₹156.6.
To be updated with more.
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