Stay invested in Biocon, says Hemen Kapadia

Hemen Kapadia of KRChoksey Securities told CNBC-TV18, "In last two years Biocon has gone nowhere. It is totally rangebound. If it is a short-term view also we are in a range between Rs 455 and Rs 495, for the last 18 or 22 trading sessions with no directional bias.""Firstly, you need to keep a stoploss at Rs 472 and if Rs 495 gets taken out with volumes, we would see a smart jump to Rs 510 and maybe to Rs 520. So as of now it is a hold, it doesn’t look bad, it hasn’t done much better either in the recent past or in the past couple of years," he said.