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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.