Budget 2026: Biocon shares rally after FM Nirmala Sitharaman announces ₹10,000 crore for Biopharma Shakti

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.

Along with Biocon, shares of Piramal Pharma, Sun Pharma and Torrent Pharma 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.