Moneycontrol PRO

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.

  • bselive
  • nselive
Todays L/H

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.


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


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Indian Energy Exchange - 270722 - ic

Broker Research
first published: Jul 28, 2022 10:08 pm
ISO 27001 - BSI Assurance Mark