Company Update - Indian Energy Exchange - ICICI Direct

Increasing power demand and government policies

• With the Supreme Court disposing of a spat between Central Electricity Regulatory Commission (CERC) and Sebi, electricity can now be traded as other commodities with forward contracts and derivatives on exchanges
• This settlement will open the gates for introduction of longer duration delivery bases contracts in power exchanges and IEX will be a beneficiary
• This will not only add to volumes but also provide new products to the market
• Shift of power buying pattern from power purchase agreements (PPAs) to short term market catalysed by MBED is expected to lead to a strong surge in volumes from FY24E. This can provide strong volume growth traction to power exchanges like IEX

For details, click on the link below: Link to the report

Shares of Indian Energy Exchange Limited was last trading in BSE at Rs. 790.45 as compared to the previous close of Rs. 780.40. The total number of shares traded during the day was 1237738 in over 25484 trades.

The stock hit an intraday high of Rs. 809.20 and intraday low of 761.65. The net turnover during the day was Rs. 973190808.00.

Source : Equity Bulls

Keywords

IndianEnergyExchange INE022Q01020 IEX ICICIDirect CompanyUpdate