Stock market analysts have maintained 'buy' rating on Biocon Ltd with an intraday target of Rs 299.

According to them, interested traders can purchase the stock with a strict stop loss of Rs 289.

If the bourses remain on the positive track, then the stock price will hit a target above Rs 305.

Shares of the company, on Wednesday (Dec 09), closed at Rs 293.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 298.40 and a low of Rs 90.10 on BSE.

Current EPS & P/E ratio of the stock stood at 13.61 & 21.22 respectively.

Biocon Ltd, on Dec 01, has declared that it has finished the acquisition terms of the bulk pharmaceutical business project of IDL Specialty Chemicals, situated near Hyderabad.

Biocon signed up a definitive contract for the abovementioned acquirement.

Biocon is a research-driven, international healthcare company with a strong matrix of capacities along the biopharmaceutical value chain.

The company believes that their strategic licensing affiliations will speedily provide them wider access and superior market penetration.