BENGALURU: Indian Energy Exchange (IEX) soared 20% to a record high on Tuesday, after the energy trading platform said it would consider a bonus issue of shares, adding to nearly 24% of gains so far this month as demand for electricity ramps up.
\nIncreased economic activity after the second wave of the coronavirus has resulted in a shortage in coal supply and driven up electricity demand, proving a boon for New Delhi-based IEX which controls 95% of the power exchange market.
\nIEX’s plan to issue bonus shares, which will be considered at an October 21 board meeting along with its quarterly earnings, comes on the heels of a 72% surge in its shares in the three months ended September 30, significantly outperforming a 16% rise in the S&P BSE Power Index.<\/p>\n","protected":false},"excerpt":{"rendered":"
BENGALURU: Indian Energy Exchange (IEX) soared 20% to a record high on Tuesday, after the energy trading platform said it would consider a bonus issue of shares, adding to nearly 24% of gains so far this month as demand for electricity ramps up. Increased economic activity after the second wave of the coronavirus has resulted in a shortage in coal supply and driven up electricity demand, proving a boon for New Delhi-based IEX which controls 95% of the power exchange market. IEX’s plan to issue bonus shares, which will be considered at an October 21 board meeting along with its […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-443469","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/443469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=443469"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/443469\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=443469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=443469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=443469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}