India's Syngene International rises after report Biocon likely to sell stake

Syngene International

10/12/2024 04:37

** Shares of contract research firm Syngene International
 SYNN.NS  rise as much as 3.5% to 898 rupees 
    ** Biopharma firm Biocon  BION.NS  is likely to sell 2%
stake in Syngene International via block deals, CNBC-TV18 
reports citing sources
    ** Shares of Biocon are nearly flat
    ** SYNN has been above its 200-day SMA since July
    ** About 2 mln SYNN shares traded, 2.3x its 30-day moving
avg
    ** Avg rating of eight analysts covering the stock is "hold"
and median PT is 820.5 rupees, ~6.5% lower than current price -
LSEG data
    ** SYNN last up 1.2%, extending YTD gains to ~25%
    
    

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))