HSBC sees Biocon share price rallying up to Rs 430; stock surges 5%

Biocon Ltd shares rose 4.7% after HSBC upgraded its rating to "buy" and raised the target price to Rs 430. The upgrade reflects a turnaround driven by biosimilar launches, improved generics sales, and US FDA clearance of Biocons Malaysia plant. HSBC's new target price represents a 48.3% increase, signaling confidence in the companys growth prospects.