Page 2 - Elin Electronics News Today

Elecon Engineering (Elecon) is enjoying tailwinds, with strong demand from domestic and overseas business. In the domestic market, it has solidified its position as an industry leader, increasing its market share to 39% in FY22-23 from 34% FY21-22.

Rupak De, Senior Technical Analyst at LKP Securities, says that the recent upswing in the Nifty index indicates a robust bullish reversal after a period of consolidation.

On June 16, the day the stock listed, Quant Mutual Fund acquired a 2.15 percent stake in IKIO Lighting

Based on the OI percentage, 61 stocks including HDFC AMC, Adani Enterprises, NMDC, Atul and Exide Industries saw a short build-up.

Harsha Engineers International, Electronics Mart India, DCX Systems, Dreamfolks Services and Campus Activewear were among mainboard issues that saw over 50 times subscription in FY23.

BSE Sensex jumped 99.08 points, or 0.16 per cent, to settle at 62,724.71, while NSE's Nifty50 gained 38.10 points, or 0.21 per cent, to end the session at 18,601.50 for the day.

The Noida-based company has fixed a price band of Rs 270-285 per equity share

The Rs 607 crore-IPO of IKIO Lighting kicks off for subscription on Tuesday, June 6 as the company looks to sell its shares in the range of Rs 270-285 apiece till Thursday, June 8.

Ikio Lighting IPO Lighting, an original design manufacturer of LED lighting products, opens for subscription Today.

Analysts point out that the company’s substantial portion of revenue comes from a single customer, Signify innovation India Limited, erstwhile Philips India – 70 percent revenue in 9MFY23, which is a concentration risk. Any slowdown in the business of Signify will spell an omen for IKIO.