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That was a surprise for investors as the company, which counts Johnnie Walker whisky, Captain Morgan rum and Guinness among its stable of brands, had previously indicated a "gradual improvement" in sales growth

The company’s reported total revenue of Rs 1,408 crore, a 54% jump in the second quarter of FY24 as compared to the same period last year, while the net profit more than double at Rs 134 crore in Q2 FY24

“We have been very constructive on pharma, not today, but on all your shows even for the last six to eight months and my personal feeling is that pharma is in an early stage of a three- to five-year bull market. Even today, if you look at it, the US generic space is being seen as a trading space.”

The public offer was subscribed by a massive 73 times at close on strong demand from institutional investors. The QIB category of the IPO was booked 173 times

The Nifty Bank index closed 0.31 per cent up at 43820.1.

Promoters held 45.25 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 16.28 per cent and 19.81 per cent, respectively.

Gandhar Oil Refinery IPO comprises a fresh equity issue of Rs 357 crore and an offer for sale (OFS) of Rs 143 crore. The price band for the issue will be announced soon for the Rs Rs 500-crore IPO.

Shares of BSE have rallied 270% this year, trouncing global platforms such as cryptocurrency major Coinbase Global Inc. and Cboe Global Markets Inc., as well as the country’s Multi Commodity Exchange of India Ltd. The rally was partly driven by BSE relaunching derivative contracts on the benchmark Sensex and the banking sector gauge in May this year, attracting investors with reduced lot sizes and a new expiry cycle.

“There is a certainty in India that one allows one to think from a 15-20 year perspective. There is a kind of money which we are expecting. I will be personally very surprised that after May election, political instability, if $100 billion does not come in India through bonds and equity. Normally $15-20 billion comes.”

The rupee hit its record low of 83.42 during the session after breaching its previous alltime low of 83.2950 which was hit on Nov. 1.