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The Nifty Pharma index closed 1.05 per cent up at 12983.05.

The broader Topix rallied 1.87%, but was still 2.61% lower for the week.

The blue-chip CSI300 index fell 1.2% to 4,563.77, while the Shanghai Composite Index lost 1% to 3,361.44.

RBL Bank Ltd., incorporated in the year 1943, is a banking company (having a market cap of Rs 9009.74 Crore).

The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan.

Even though such business income is covered under 100% deduction for the GIFT IFSC units, any payment made to such GIFT IFSC units are subject to withholding tax under the Act. Currently, the exemption of tax withholding and reduced rates is only on certain income.

On the technical charts, the RSI of the stock stood at 17.8.

Despite sharp drops from their 2021 peaks, several of the stocks caught up in the meme-stock trading frenzy are trading higher then they were at the start of 2021. AMC and GameStop remain up about 600% and 400%, respectively, from their Dec 31, 2020 closing levels.

The pan-European STOXX 600 fell 0.8 per cent, on course for its fourth straight weekly decline, with autos and chemical stocks leading losses.

The city-headquartered bank had acquired a stake in the life insurer post amalgamation of the erstwhile Oriental Bank of Commerce (OBC) into itself last fiscal year. The erstwhile OBC held 23 per cent stake in the life insurer, which by virtue of amalgamation has come to PNB.