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IKIO Lighting is selling its shares in the range of Rs 270-285  till Thursday, June 8 in a lot size of 52 equity shares. The company is looking to raise Rs 607 crore from its IPO. IKIO Lighting, a leading manufacturer of premium lighting solutions, has successfully secured ₹182 crore from anchor investors on June 5 The initial public offering (IPO) of IKIO Lighting saw a strong demand from the investors during the first day of the bidding process. The issue, which kicked-off for subscription on Tuesday, was booked more than 1.55 times on first day of bidding. The company is a manufacturer of light emitting diode (LED) lighting solutions. It is primarily an original design manufacturer (ODM) and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands. IKIO Lighting’s products are categorised as (i) LED lighting; (ii) refrigeration lights; (iii) ABS (acrylonitrile butadiene styrene) piping; and (iv) other pr...

Actor and mimicry artist Kollam Sudhi (39) was tragically killed in a road accident on 4th June 2023 Sunday evening after the car he was travelling in collided with a goods carrier vehicle. Three other mimicry artistes, Binu Adimali, Ullas, and Mahesh, were also injured in the accident. Kollam Sudhi was a popular comic actor and mimicry artist. He rose to fame quickly after appearing on the hit comic show 'Star Magic'. Kolam Sudhi made his film debut with the 2015 release 'Kanthari' directed by Ajmal. The accident has come as a shock to the Malayalam film industry, as Kollam Sudhi was a much-loved and respected artiste. His death has left many heartbroken, as he was an important part of the mimicry and comedy scene in the state. Sudhi was on his way to perform at a show in Thrissur with his colleagues at the time of the accident that occurred near Thirunavaya in Malappuram district. Eyewitnesses reported that the goods carrier vehicle suddenly veered into the opposite l...

The Indian government recently announced that Goods and Services Tax (GST) revenues have exceeded 1.4 lakh crore rupees for 14 consecutive months, exceeding 1.5 lakh crore rupees for the fifth time since the GST was introduced. GST Revenue GST collections for May 2021 have seen a growth of 12% year-on-year, amounting to Rs 1.57 lakh crore. This marks the highest-ever collection for the month of May since the introduction of the Goods and Services Tax (GST) in 2017. This is a significant increase compared to the same period last year and indicates that economic activity in the country is picking up. It is important to note that the highest-ever GST collection in the month of May was recorded in April 2021, which was Rs 1.41 lakh crore. This was mainly attributed to the increase in economic activity due to the unlocking of the economy post-COVID-19. The steady rise in GST collections shows that businesses are slowly getting back on track. It also indicates that compliance levels are incr...

India’s GDP grows 7.2% in FY23; 6.1% in January-March quarter India's GDP growth rate soared to 7.2 percent in FY23, according to official data released by the Ministry of Statistics and Programme Implementation. This marks an impressive increase from the 5.3 percent growth rate recorded in FY22. The growth rate was even higher in the January-March quarter, coming in at 6.1 percent. This is a considerable improvement from the 4.4% growth rate recorded in the October-December quarter of FY22. The uptick in growth is being attributed to rising demand and investment, both from domestic and foreign sources. The government's fiscal stimulus initiatives have also helped spur growth in the economy. Overall, the GDP growth rate in FY23 is indicative of a positive trend in the economy. The government's efforts to boost demand and investment, as well as its fiscal stimulus initiatives, are expected to further support the economy and help it reach its growth target for the year The R...

Kotak Mahindra Bank's weighting in the MSCI Global Standard Index is expected to double from 1.38 percent to 2.68 percent, which could lead to inflows of $800 million. , according to Nuvama Research. The reshuffling exercise is scheduled for May 31. The removal of Adani companies from the MSCI Global Standard Index is likely to lead to a significant decline in the share prices of the affected companies. Furthermore, the decision could cause investors to become more wary of investing in Adani companies, leading to a further decrease in market capitalization. The Nuvama report explains that on May 31, 2023, Adani Total Gas and Adani Transmission will be deleted from the MSCI Index if the securities trade at the lower price limit for a cumulative duration of at least 5 minutes on the given day. Otherwise, MSCI will use the official closing prices, according to the MSCI Index Calculation methodology. This will be done to ensure the index remains accurate and up-to-date.  As per the Nuv...

Nifty today formed a bullish candle on the daily charts to give the highest daily close of the last 112 sessions. Now it has to hold above 18550 zones, for an up move towards 18750 and 18888 zones while on the downside support exists at 18550 and 18442 zones, said Chandan Taparia of Motilal Oswal. India VIX was down by 2.36% from 12.29 to 12.01 levels. Volatility was down thus giving some comfort to the bulls to buy at any small decline at record high index levels. Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones. The hourly momentum indicator has a negative crossover which points out that the consoli dation is still not over, and it could lead to range bound price action over the next few trading sessions. Stock market   experts said that after strong company results season, FIIs have gone bullish on Indian stocks as strong Q4 numbers indicate continuation of growth and demand in the natio...