Biocon shares rise after Kiran Mazumdar-Shaw names Claire as her successor

Shares of Biocon rose after its Founder and Chairperson Kiran Mazumdar-Shaw named her niece Claire Mazumdar as her successor. The stock closed at ₹368.25 apiece, up 2.12% on the NSE on Tuesday. The firm's market capitalisation stood at ₹59,973.59 crore. Claire is the Founder and CEO of Biocon-incubated Bicara Therapeutics, a biotech company.