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The share allotment for IKIO Lighting will take place on June 13, with investors receiving shares on a lottery basis. Shares are expected to be listed on June 16, with expectations for a healthy premium as shares are commanding a GMP of Rs 107. The IPO was oversubscribed 66.29 times, with institutional buyers driving much of the demand. The net proceeds will be used for partial debt repayment, investment in subsidiary IKIO Solutions, and general corporate purposes. IKIO Lighting designs, develops, manufactures, and supplies products to customers who then further distribute products under their brands.

A total of 4,536 shares changed hands on the counter till 01:12PM (IST).

Despite facing a 10% dip from its record-high, Bharat Heavy Electricals (BHEL) could surpass the December 2022 highs in the short-run, according to technical analysis. The stock broke out of a Flag & Pole candlestick pattern on weekly charts in May 2023 and has sustained support above the 200-DMA on daily charts. The daily SMA indicates a predominantly bullish trend. Founder & CSO at AlgoBulls, Suraj Bathija, advises buying shares at CMP Rs 85, with potential targets of Rs 116 and Rs 145 and a stop loss of Rs 77 in the next quarter.

Cryptocurrencies including Bitcoin, XRP, Cardano, and Polygon traded positively while Ethereum, BNB, Solana, and Shiba Inu suffered losses, further complicating the global cryptocurrency market, which was trading 0.12% lower, at $1.05tn. Awaiting the release of inflation data, investors are violating both crypto as well as the stock market. Since the US Fed began fighting against inflation 500 basis points ago, its war with inflation leading to market recession was voided.

​Radhika Gupta, MD & CEO, Edelweiss Mutual Fund in a Twitter thread shared five thoughts about money that she would want her child to learn first.

On the technical charts, the RSI of the stock stood at 60.61.

The stock quoted a 52-week high price of Rs 54262.3 and a 52-week low of Rs 34968.6.

The Indian rupee opened higher at 82.45 against the US dollar, gaining 7 paise in early trade as global crude oil prices fell and domestic stocks trended positively. The dollar index gained 0.07% to 103.62. Brent crude futures fell 1.12% to USD 73.95 a barrel, while domestic stocks rose by 0.12%. However, FIIs were net sellers in the capital market on Friday. Experts predict that the rupee will range trade as the Reserve Bank protects one end while oil companies continue to buy US dollars at the other end.

I would be actually looking at buying this stock at some stage because this fall in the prices is actually something which I like. So let us see if it falls a bit further, comes another 10% down, then I would actually be a buyer rather than try to ignore the stock.

The stock traded at a P/E multiple of 21.18, while the price-to-book value ratio stood at 2.11.