20 Nov 2025 | 5 Mins Read
Citi double downs stock to 'Sell' in sharp 5% drop for Biocon
Flipitmoney
Biocon shares dropped nearly 5 percent on November 20 after Citi downgraded the stock to 'Sell' from 'Buy' due to rich valuations and worsening market dynamics. The brokerage cut the target price to Rs 360 from Rs 430, implying a 12 percent downside. Biocon's Q2 revenue rose 20 percent YoY to Rs 4,295.5 crore, but expenses grew 18 percent YoY to Rs 4,205.3 crore.