Biocon shares rise 1% after billionaire Kiran Mazumdar-Shaw names niece as successor

Biocon's chairperson, Kiran Mazumdar-Shaw, has named her niece, Claire Mazumdar, as her successor, sparking a more than 1% jump in the company's shares. Shaw, who founded Biocon over 40 years ago, expressed confidence in Claire's ability to lead the company's future growth, driven by advanced biotech and AI.