Indian Energy Exchange gains 5% on strong business update for April

Shares of Indian Energy Exchange (IEX) edged higher by 5 per cent to hit a new high of Rs 406 on the BSE in intra-day trade on Thursday after the company said it achieved a 90.2 per cent year-on-year (YoY) growth in power market trades at 7,707 million units (MU) volume in the month of April 2021.

While the growing electricity consumption has been one of the key factors behind the consistent performance of the Exchange market, its robust value proposition in terms of the most competitive prices, flexible, and efficient procurement position Exchange as the most preferred destination for power procurement for both the distribution utilities as well as the industrial consumers, IEX said in a press release.