Business News: Key Updates: IPO Listing, Fuel Prices, Startup Trends, IIT Placements, Naidu's Comeback, Kangana's Mandi Role

The IPO of Kronox Lab Sciences, which remained open for subscription from June 3 to June 5, received a strong response—117.25 times subscription. The IPO price is set at Rs 129-136 per share, and it is set to list on the BSE and NSE on June 10. According to market observers, the grey market premium (GMP) suggests a nearly 25% listing gain. Investors can check the allotment status on Kfin Technologies's portal or the BSE and NSE websites. Kronox Lab Sciences is a Vadodara-based company that specializes in high-purity specialty fine chemicals that are used in a myriad of industries.

NEW DELHI: Oil marketing companies increased petrol and diesel prices on June 8, 2024. Across the major cities of the country, fuel prices remained unchanged. In Mumbai, petrol is being retailed at Rs 104.21 per litre, and diesel is being sold for Rs 92.15. While the price of petrol in Delhi stands at Rs 94.72, that of diesel is Rs 87.62 per litre. Kolkata's prices are Rs 103.94 for petrol and Rs 90.76 for diesel, and in Chennai, petrol costs Rs 100.85 and diesel Rs 92.43. In Assam, petrol was increased by Rs 1.02 and diesel by Rs 1.01.

Commerce Secretary Sunil Barthwal on Sunday said India's strong economic growth is prompting a 'reverse flipping' trend in which the start-ups that had earlier moved abroad to access capital and tax benefits were returning back to the country. Addressing the gathering of global investors and officials from the dais at an event in Singapore, Barthwal said India's future growth will be led by the digital economy and emerging technologies like artificial intelligence. The fiscal year ending March 2024 saw India's economy grow 8.2%, making it the fastest-growing major economy. The event showcased investment opportunities in India and saw global investor participation, the commerce department said in a tweet.

An RTI query has reportedly uncovered that 32% of IIT graduates between 2016 and 2019 were unable to get jobs through campus placements, said a report on CNBC-TV18. This was before the COVID-19 pandemic, but it does point to the tech job market not being too rosy, with layoffs at Google, Meta, and Microsoft, among others. Though some IITs have improved placements, newer campuses face more struggles. Additional problems such as slowdowns in economics and technological disruptions worsen the situation, said T S Sinha, CPIO at IIT-Patna. IIT Bombay said reports about its students being job seekers were clarified for 2024, with only 6.1% seeking jobs.

Just under a year ago, Chandrababu Naidu was on the backfoot with an arrest and tough competition from Jagan Mohan Reddy's YSRCP. He orchestrated an extraordinary comeback: the TDP won in Andhra Pradesh and he was able to solidify a good position within the NDA. A critical moment for the man who will be 73 years old, Naidu's campaigning in Kurnool was an emotional one, swearing in a second term in which he promised to focus on development. the naidu is a good politician

After his defeat by Kangana Ranaut in the Mandi Lok Sabha battle, Himachal Congress leader and state minister Vikramaditya Singh takes responsibility for the loss. He appreciates the support by the CM and Deputy CM but points to the difficulties of fighting all top BJP leaders all alone during the campaigning. He will not be bogged down though, as he cites the legacy of his family in representing the constituency and his will to fight on despite his initial reluctance