Mumbai, July 14 -- Trading volumes surged significantly during the session. On the BSE, 4.72 crore shares changed hands compared with the three-month average of 2.49 lakh shares. On the NSE, 2.17 crore shares were traded, well above the three-month average of 41.40 lakh shares.

According to media reports, U.S.-based Viatris-owned Mylan was looking to sell its entire 5.6% stake in the biotechnology company through block deals worth around Rs 3,481 crore. The transaction would mark Mylan's complete exit from Biocon after a 17-year partnership. The block deal was reportedly launched at a floor price of Rs 378.50 per share, a discount of 7.9% to Biocon's Monday closing price on the NSE.

Mylan partnered with Biocon in 2009 to develop and com...