Basel Medical Group Ltd shares surge 100% premarket after IIT Bombay and ICICI Foundation partnership for biomedical innovation hub expansion.

Basel Medical Group Ltd. surged 100% in premarket trading. The company's stock price increase is likely due to the partnership between IIT Bombay and ICICI Foundation for the expansion of the biomedical innovation hub. This partnership, which includes a ₹70 crore pledge from ICICI Foundation, is expected to enhance the capabilities of the biomedical center at IIT Bombay, potentially leading to significant advancements in biomedical innovation.