Indian Energy Exchange soars 10% on strong Q2 show, 2:1 bonus issue

Shares of the Indian Energy Exchange (IEX) rallied 10 per cent to Rs 832.85 on the BSE in Friday’s intra-day trade, after the company posted strong earnings for the second quarter ended September 2021 (Q2FY21) and also announced bonus shares in the ratio of 2:1.

At 09:30 am; the stock, however, had pared some of its opening gains and was trading 4 per cent higher at Rs 789.15 on the BSE. In comparison, the S&P BSE Sensex was up 0.60 per cent at 61,286. A combined 6.6 million shares changed hands on the NSE and BSE. The stock had hit a record high of Rs 956.15 on Tuesday, October 19, 2021.

For Q2FY22, IEX on Thursday posted a near 75 per cent jump in consolidated net profit at Rs 77.38 crore, mainly on the back of higher revenues.