Buy Indian Energy Exchange; target of Rs 305: ICICI Direct

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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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 ~95% in the power exchange market • The company has a debt free balance sheet with cash & investments to the tune of ~ Rs 700 crore.

Outlook

We continue to remain positive and retain our BUY rating on the stock. We value IEX at Rs 30 5 i.e. 57x P/E on FY24E EPS.

More Info

At 17:30 Indian Energy Exchange was quoting at Rs 232.60, up Rs 2.30, or 1.00 percent.

It has touched an intraday high of Rs 238.00 and an intraday low of Rs 230.50.

It was trading with volumes of 586,784 shares, compared to its thirty day average of 946,920 shares, a decrease of -38.03 percent.

In the previous trading session, the share closed down 3.58 percent or Rs 8.55 at Rs 230.30.

The share touched its 52-week high Rs 318.72 and 52-week low Rs 79.08 on 19 October, 2021 and 28 January, 2021, respectively.

Currently, it is trading 27.02 percent below its 52-week high and 194.13 percent above its 52-week low.

Market capitalisation stands at Rs 20,903.05 crore.

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