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Buy Indian Energy Exchange ; target of Rs 250: Motilal Oswal

Motilal Oswal is bullish on Indian Energy Exchange recommended buy rating on the stock with a target price of Rs 250 in its research report dated August 31, 2020.

August 31, 2020 / 12:47 PM IST
 
 
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Motilal Oswal 's research report on Indian Energy Exchange


Indian Energy Exchange (IEX) is an electricity exchange that offers a transparent and efficient platform for the Short-Term (ST) trading of power. Over the past decade (FY11–20), volumes on IEX have jumped >4x. With new product launches, a continued oversupplied market, and IEX’s competitive positioning, we expect volumes/PAT for IEX to increase at a 20%/19% CAGR over FY21–23.


Outlook


We initiate coverage on IEX with a Buy rating, at TP of INR250/sh based on 30x Sep’22 EPS.


For all recommendations report, click here


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

Broker Research
first published: Aug 31, 2020 12:47 pm

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