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The Nifty Pharma index closed 0.82 per cent at 23073.05.

So, Jubilant Food being the largest player, it has shown definitely a momentum and there is no other pizza player which is actually close to that. But definitely we expect QoQ improvement in the like-to-like growth for all the companies in the QSR space.

I would be a buyer at lower levels, although I have not handpicked certain short ideas right now. But if I had to instantly give a short view, then I would be bearish on Nifty at 23,715, my stop loss would be 24,100 and my target should be 23,300 to 23,000, so I am bearish on the index, that is point one.

The Relative Strength Index of the stock stood at 46.26 on Monday.

The retail portion of the issue was subscribed 105.12 times, while non-institutional investors subscribed 29.26 times. Qualified institutional bidders booked 36.20 lakh shares of the allotted portion.

A total of 1,195,715 shares changed hands on the counter till 01:54PM (IST).

European shares opened higher on Monday, boosted by advancing technology and bank stocks in a week packed with economic data around the world including inflation readings in Europe and jobs data in the United States.

So, the view is if the market is going to be of a consolidation phase, then I would advise staying with the momentum. It will be better to be on slightly defensive bets or with the ones which have underperformed slightly last year.

The stock quoted a 52-week high price of Rs 298.45 and low of Rs 219.45.

Bengaluru-based Narayana Hrudayalaya surged 3.4% to Rs 1,355 on the NSE, while Rainbow Childrens Medicare gained 4% in intraday trade. Other hospital stocks, including Apollo Hospitals, Aster DM Healthcare, and Krishna Institute of Medical Sciences (KIMS), rose by up to 2% during the session, reflecting investor optimism in the healthcare sector.