INDIAN ENERGY EXC (IEX)
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India invokes Section 11 of Electricity Act for captive thermal plants
Power demand is expected to remain strong over the next few months, with peak demand potentially rising to 290-300 GW as industrial activity and cooling requirements increase. Against this backdrop, the government's decision to invoke Section 11 of the Electricity Act for captive thermal power plants could benefit power exchanges and coal producers, according to Rupesh Sankhe, Power Analyst at Elara Capital.
IEX Shares Rise 2% as August Electricity Volume Hits Record High, Up 20% YoY
Indian Energy Exchange (IEX) shares gained about 2% after reporting a record-high electricity trading volume in August, up 20.2% year-on-year. The strong volume growth, coupled with increased prices, has boosted investor sentiment, with the stock reacting positively in early trade. Analysts are viewing the performance as a positive indicator for the company's near-term earnings.
Bernstein upgrades IEX to Market Perform, warns of soft volumes
2 Min Read Shares of Indian Energy Exchange Ltd. (IEX) will be in focus on Wednesday, October 7, after global brokerage firm Bernstein upgraded the stock to ‘Market Perform’ from ‘Underperform’, with a price target of ₹110 per share. The target implies an upside of around 5% from IEX’s previous closing price of ₹104.75.
IEX faces regulatory overhang
The court also clarified that it was not expressing any opinion on the merits of the matter. The order keeps the regulatory overhang alive for IEX, India’s dominant power exchange. Market coupling is seen as a key risk for the company because it could reduce the advantage IEX gets from its strong liquidity and price discovery in electricity trading.
Shriram Finance, Tata Consumer post strong Q1 results
Shriram Finance and Tata Consumer reported robust first-quarter earnings with significant profit and revenue growth. Investors are focused on continued expansion of margins and future outlook.
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