Biocon stock jumps 6% after Mylan exits with 5.64% stake sale

Shares of Biocon climbed more than 6% during early trading hours today, driven by a large block deal on the National Stock Exchange. The rally followed the decision by Viatris-owned Mylan to sell its full 5.64% holding in the company for ₹3,680 crore. This significant sell-off has removed a persistent supply concern, fueling a surge in institutional interest.