Biocon's independent director sell shares

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Posted: Friday, Nov 06, 2009 at 1559 hrs IST
Updated: Friday, Nov 06, 2009 at 1559 hrs IST

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Mumbai: Bangalore-based biotech firm Biocon's independent director, Neville C Bain has sold shares of the company aggregating to Rs 4.23 crore, through open market transactions.

In two separate transactions, Bain has sold 1,25,000 shares and 50,000 shares of the biotechnology firm, for Rs 2.99 crore and Rs 1.23 crore, respectively, Biocon said in a disclosure to the Bombay Stock Exchange.

Bain held 0.5 per cent stake in Biocon, and after the two transactions his holding has come down to 0.4125 per cent or 8,25,000 shares.

Shares of Biocon were trading at Rs 253.30 on the BSE, up 0.66 per cent from its previous close.

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