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Buy Indian Energy Exchange; target of Rs 190: ICICI Direct

ICICI Direct is bullish on Indian Energy Exchange has recommended buy rating on the stock with a target price of Rs 190 in its research report dated July 26, 2022.

July 28, 2022 / 10:08 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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ICICI Direct's research report on Indian Energy Exchange


Indian Energy Exchange (IEX) is the premier electricity exchange in India, which facilitates trading of electricity. IEX commands a market share of ~90% in the power exchange market • The company has a debt free balance sheet with cash & investments to the tune of ~ Rs340 crore.


Outlook


We continue to remain positive and retain our BUY rating on the stock. We value IEX at Rs 190 i.e. 40x P/E on FY24E EPS.


For all recommendations report, click here

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Indian Energy Exchange - 270722 - ic

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first published: Jul 28, 2022 10:08 pm
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