Biocon Research, a wholly owned subsidiary of Biocon has entered into an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation, to purchase the latter's investment in Biocon's research services subsidiary, Syngene International for an agreed consideration of Rs 2.15 billion.

GE Capital had a 7.69% stake in Syngene.

Shares of the company gained Rs 1.2, or 0.24%, to settle at Rs 502.05. The total volume of shares traded was 152,518 at the BSE (Tuesday).