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The Nifty Pharma index was trading 0.12 per cent at 22554.80.

Paramesu Biotech Ltd, a leading manufacturer of maize-based products, recently filed for an IPO to raise Rs 600 crore. The company plans to use the funds for expansion and debt repayment. Paramesu Biotech has a strong market presence in India and abroad. Its revenue and profits have shown consistent growth in recent years. Pantomath Capital Advisors will manage the IPO.

Five stocks saw fresh short positions on November 8, with rising open interest and declining prices, indicating bearish sentiment: Gujarat Gas, Chambal Fertilisers, Petronet, Indus Towers, Hindpetro.

A total of 5,374 shares changed hands on the counter till 11:58AM (IST).

Zinka Logistics Solutions, an Indian platform for truck operators, has announced the price band for its upcoming IPO, set at Rs 259-273 per share. The IPO aims to raise Rs 1,114.72 crore, with funds allocated for expansion, technology enhancement, and debt reduction.

A total of 5,057 shares changed hands on the counter till 10:29AM (IST).

Mark Mobius, a seasoned investor, believes that shifts in U.S. policies, particularly deregulation and tariffs, will fuel growth in both the U.S. and emerging markets. He sees India as a potential global high-tech manufacturing hub, benefiting from these changing dynamics and the restructuring of global supply chains.

The Relative Strength Index of the stock stood at 62.93 on Friday.

Tata-backed Indian Hotels Company (IHCL) saw its stock surge nearly 6% to a 52-week high of Rs 722 after reporting a 226% YoY profit growth to Rs 583 crore for Q2 FY24. Revenues rose 27.4% to Rs 1,826 crore. EBITDA grew 41.3% to Rs 501.27 crore. IHCL will also manage The Claridges, New Delhi from April 2025.

ITI Ltd shares surged 9% after being awarded a Rs 3,022 crore BharatNet project for Himachal Pradesh, West Bengal, and Andaman & Nicobar Islands, marking a significant milestone for the company.