Markets are trading in the red as of mid-afternoon, below the | theincomet

Markets are trading in the red as of mid-afternoon, below the 18,800 level. Here are the top stories of the hour.

IKIO Lighting shines on second day
The LED lighting manufacturer’s shares are trading 9% higher on the second day of trading and have gained 51% from their issue price of ₹285. Notably, Quant Mutual Fund has acquired a 2.15% stake in the company.

Lupin launches USFDA approved injection
The pharma company (+0.1%) has launched USFDA approved Thiamine Hydrochloride Injection USP, used for treatment of thiamine deficiency. The injection had an estimated annual sales of $35 million in the US.

Laurus Labs partners with IITK
Laurus Labs (-0.3%) has entered into an agreement with IIT Kanpur to introduce innovative gene therapy assets to the market. The collaboration aims to provide affordable access to these therapies in India and emerging markets.

Gold loses lustre
Gold prices continued their downward trend today as the US dollar remained strong and investors analysed the future of interest rates following the US Fed's hawkish tone. MCX August Gold futures were trading at ₹59,251 per 10 grams in the opening trade, down 0.17%.