Shares of energy exchange Indian Energy Exchange (IEX) will be in focus after the firm released its volume data for the month of February.
The electricity traded volume in February increased by 9 percent on-year to 9,622 million units (MU). The market clearing price in the Day Ahead Market (DAM) at Rs 4.38 per unit in February declined by 11 percent on-year.
IEX's DAM volume grew by 14 percent on-year to 5,369 MU, and the real-time electricity market (RTM) volume rose by 23 percent YoY to 2,887 MU.
At 9.19 am, IEX stock was quoting Rs 151.21 on the NSE, down 2.3 percent from the last close.
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Indian Energy Exchange reported an 18.9 percent year-on-year increase in consolidated net profit, at Rs 91.8 crore, for the December quarter of the current financial year. IEX’s net profit in the year-ago period stood at Rs 77.2 crore.
The power trading platform’s total income increased 20 percent to Rs 141.21 crore from Rs 117.34 crore in the year-ago period, according to an exchange filing. Revenue from operations grew 15 percent to Rs 115.3 crore from Rs 100.27 crore in Q3 FY23.
"Improved fuel supply scenario resulted in increased sell liquidity since November, 2023. Sell bids in collective auctions increased by 25 percent YoY in November, 2023 and 18 percent YoY in December 2023, which led to an easing of prices on the exchange," the IEX said in a statement on January 25.
"We believe FY26 volume growth could fall short of expectations, given the high base in 9MFY25 and the recent deceleration in power demand growth. Clarity on long-dated contracts, a key catalyst, has been pending for some time. While concerns around market coupling have subsided somewhat, it remains a risk," said Motilal Oswal. The brokerage reiterared its neutral rating on the stock with a target price of Rs 193.
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