India's Syngene climbs most in more than 3-mths on Biocon stake sale report

Syngene International

01/02/2023 05:21

** Shares of Syngene International  SYNN.NS  up as much as
3.75% at 583.4 rupees
    ** Stock's highest since Jan. 24, biggest intraday jump
since Oct. 19 
    ** Stock on track for second consecutive session of gains
    ** Biopharma co Biocon  BION.NS  sells about 10% of its
stake in Syngene  SYNN.NS , according to a report
    ** SYNN remains below its 200-day, 100-day and 50-day moving
averages, indicating bearish sentiment
    ** Brokerages bullish on the co, with 7 out of 8 firms
rating it a "buy" or above, their median PT is 723.5 rupees
    ** More than 925,219 shares change hands, as of 10:21 a.m.
IST, 1.9X its 30-day average of 485,106 shares 
    ** Stock down 5.5% last year 
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))