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Promoters held 37.01 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 26.82 per cent and 8.25 per cent, respectively.

The Nifty Pharma index closed 0.67 per cent up at 12883.6.

The US Fed on Wednesday increased interest rates by 50 basis points on expected lines and signalled more hikes ahead to fight inflation. The US central bank raised the interest rate to 4.25-4.50 per cent to the highest level in 15 years.

Credit Suisse’s India Equity Strategist Neelkanth Mishra said once monetary tightening in the US starts to weaken the labour market, IT services firms would also see earnings cuts. In our view the point at which the job market in the US starts to show pressure, and company management begins to talk about weak order flow would be a good time to take a fresh look at this sector.

"The government is trying to do very good things but attributing everything to one individual may scare away the foreign investors. It makes them nervous and they wonder if this is the next China. What if tomorrow like Xi or Putin, we do something stupid? It is very ambitious and sometimes we mis-position ourselves thinking it is going to work in our favour. But that is not the message they want to hear."

The stock quoted a 52-week high of Rs 3910.0 and a 52-week low of Rs 1513.0.

The company reported a 482% jump in net profit in the nine months through September as its average selling price more than doubled and coal sales volume jumped 41%. Forecasts from five analysts compiled by Bloomberg suggest another 42% upside in stock prices over the next 12 months.

The Relative Strength Index of the stock stood at 56.01 on Thursday.

The one smallcap stock that stole the heart of most of the fund houses was Bikaji Foods. The top 4 funds bought shares of the company worth more than Rs 100 crore in November, according to the data compiled by Systematix Shares & Stocks.

IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 39584.49 Crore).