Biocon, a leading biotechnology company, has incorporated a wholly-owned subsidiary company, "Biofusion Therapeutics”. The authorised share capital of the company is Rs 15,00,000 and paid-up capital is Rs 5,00,000.

The business of a wholly-owned subsidiary company would be in the field of Research and Development and allied services.

Biofusion Therapeutics is incorporated with the Registrar of Companies, Bengaluru, Karnataka, on Mar.18, 2021, and is yet to commence its business operations.

Shares of Biocon  are trading at Rs 400, up Rs 4.15, or 1.05%  at the Bombay Stock Exchange (BSE) on Monday at 12:18 p.m.

The scrip has touched an intra-day high of Rs 403.10 and low of Rs 394.95. The total volume of shares traded at the BSE is 243,634.

In the earlier session, the shares gained 1.63%, or Rs 6.35, at Rs 395.85.

Currently, the stock is trading down 18.01% from its 52-week high of Rs 487.70  and above 59.84% over the 52-week low of Rs 250.15.