Indian Energy Exchange: Strong business performance drives stock to new high
While growth drivers are in place, valuation could limit returns in the near term for Indian Energy Exchange
May 21, 2021 / 10:21 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
During the first quarter of fiscal 2020-21 last year, electricity demand was impacted and trading on power exchanges, particularly on the demand side, was affected due to the national lockdown and other measures taken by the government to contain Covid-19.
While the pandemic has worsened this year, industrial activities, so far, have not so much been impacted by the localised lockdowns. As a result, the pace of power demand has been maintained, which is also getting reflected in the trading...