Biocon’s Big FDA Win
- 11th April 2025
Aaj Ka Bazaar
The US market ended lower overnight after a historic rally seen in the previous session in response to the temporary tariff relief. President Trump didn’t rule out extending his 90-day tariff pause but said if the White House can’t come to new agreements with its trading partners, the steeper rates would go back into effect. In economic releases, US inflation cooled broadly in March while there has been a slight increase in jobless claims last week. Asian markets were sharply lower this morning after scoring big gains in the previous session. There were concerns that the U.S.-China trade war will probably get worse before it gets better. Indian market look set to open on a buoyant note Friday after US President abruptly announced a 90-day pause on new reciprocal tariffs on most countries, but raised duties for China, making Beijing increasingly isolated for its lack of respect shown to world’s markets. However, all other countries face a baseline tariff of 10%.
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Sector: Pharmaceuticals
FDA Nod Boosts Biocon Cancer Drug
Biocon’s share price rose nearly 4% in early trade on April 11 after its subsidiary, Biocon Biologics, received USFDA approval for a new cancer drug called JOBEVNE. This drug is a biosimilar version of Avastin, used to treat multiple types of cancer by cutting off the blood supply to tumors. The approval strengthens Biocon’s oncology portfolio in the US, adding to its existing cancer treatments like OGIVRI and FULPHILA. JOBEVNE is already approved and sold in Europe and Canada under the name ABEVMY. At 9:29 AM, Biocon was trading at ₹316.85, up ₹11.65. Despite the recent jump, the stock is still 21% below its 52-week high of ₹404.60 and 21% above its 52-week low of ₹260.00. Biocon also recently got USFDA approval for another drug used to treat low blood pressure. The company’s market cap currently stands at ₹38,041 crore, though the stock had dropped 8% in the past five days.
Why it Matters:
This approval matters because it strengthens Biocon’s position in the high-potential US oncology market, adding to its growing biosimilar portfolio. It also opens up a new revenue stream, boosting long-term business prospects. For investors, such regulatory milestones can signal growth momentum and support stock price appreciation.
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Sector : Heavy Electrical Equipments
BHEL Strategic Pact Boosts Share price
BHEL’s share price rose nearly 2% on April 11, marking its third consecutive day of gains. The rise came after BHEL signed a 10-year Memorandum of Understanding (MoU) with Nuovo Pignone International to explore compressor revamp projects in India’s fertilizer sector. Under this deal, BHEL will act as the lead bidder, while Nuovo Pignone will be a nominated vendor with a defined role. This long-term partnership could open up new business opportunities and boost BHEL’s presence in the fertilizer segment. At 9:24 AM, the stock was trading at ₹215.75. BHEL has also been active in other sectors—recently partnering with Hitachi Energy to build a massive HVDC terminal to transmit renewable energy across states. Despite the recent uptick, the stock is still down nearly 35% from its 52-week high of ₹335.40, though it’s up 22.59% from its 52-week low. BHEL’s market cap currently stands at ₹75,125 crore
Why it Matters:
This MoU strengthens BHEL’s role in India’s fertilizer sector by positioning it as the lead bidder for compressor revamp projects. It also opens a steady pipeline of business over the next decade, enhancing revenue visibility. For investors, it signals long-term growth potential despite recent stock underperformance.
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The new 10-year MoU boosts BHEL’s position in the fertilizer sector, where it will lead bids for upgrading compressor systems—a key part of fertilizer plants. Nuovo Pignone International will work alongside BHEL as a partner on these projects. This agreement gives BHEL a steady flow of business opportunities for the next decade, which can help improve its revenue stability. It also adds to the company’s efforts to expand its presence in core industrial sectors. For traders and investors, this is a positive sign as it shows that BHEL is building a strong project pipeline, which could lead to better financial performance in the future. Even though the stock has dropped about 35% from its recent high, moves like this could help turn investor sentiment more positive. Overall, the MoU shows BHEL’s focus on long-term growth and maintaining relevance in key sectors like fertilizers and infrastructure.
Option Traders Corner
Max Pain
Nifty 50 – 22300
Bank Nifty – 51000
Nifty 50 – 22407 (Pivot)
Support – 22,345, 22,291, 22,229
Resistance – 22,460, 22,522, 22,576
Bank Nifty – 50215 (Pivot)
Support – 49,935, 49,629, 49,348
Resistance – 50,521, 50,802, 51,1107
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