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"Health stocks are certainly on the consciousness of investors," said Brad Smoling, managing director of Smoling Stockbroking.

Following the better than expected listing, a majority of experts have suggested investors to exit Vedant Fashions stock.

Promoters held 59.47 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 26.51 per cent and 2.45 per cent, respectively.

The stock quoted a 52-week high of Rs 1674.0 and a 52-week low of Rs 1274.15.

A total of 3,274 shares changed hands on the counter till 12:45PM (IST)

The Nifty Pharma index closed 0.79 per cent up at 13356.9.

The stock quoted a 52-week high price of Rs 332.6 and a 52-week low of Rs 194.25.

The company posted a profit before tax amounting to Rs 88.14 crore and profit after tax of Rs 66.01 crore during the third quarter of Financial Year 2021-22 on a consolidated basis.

Analysts expect the business momentum to continue given the focus on increasing volume further in the coming years and improving profitability of non-lignite operations.

The partially convertible rupee opened at 75.1700 per US dollar as against 75.3300 per dollar at the previous close. So far in the day, the Indian currency moved in a band of 75.1800-75.2580 per US dollar.