IEX shares hit new high for 2nd day in row; stock up 29% in last 3 sessions since making entry into F&O

The shares of Indian Energy Exchange (IEX) have touched a new life high for the second consecutive session on Wednesday to Rs 573 per share, after rallying for over 13.5 per cent on the BSE intraday trade on Wednesday. The shares have been surging since the inclusion in the F&O market.

The stock has jumped around 29 per cent in the last five sessions and has surpassed its previous high of Rs 521.55 per share registered on August 31, 2021. The stock has outperformed the market over the past one month by gaining around 12 per cent versus over an 8 per cent rise in the BSE Sensex.

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The NSE on August 9, 2021, had announced the inclusion of IEX along with other 10 companies’ stocks in F&O contracts with effective from August 27, 2021, subject to fulfilment of eligibility criteria. 

The stocks that are included in F&O along with IEX are: Can Fin Homes, Dixon Technologies, Hindustan Aeronautics Limited (HAL), IndiaMART InterMESH, Ipca Lab, MCX, Oracle Financial Services, Polycab India and Syngene International.

All the 10 stocks that have entered into the Futures and Options segment had been surging till yesterday, however, almost all witnessed a profit booking and has been trading either mute or weak except for Indian Energy Exchange shares.

The IEX stock has rallied near 215 per cent from its 52-week low of Rs 181 hit on 4 November 2020.

IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates). 

At around 02:08 pm, the stock has been trading at fresh 52-week high and has been surging continuously, it is up over 11 per cent to Rs 562.55 per share as compared to 0.01 per cent rise in the S&P BSE Sensex on Wednesday.

In the F&O contracts segment, the stock is also trading almost 11 per cent higher to Rs 561.95 per share on the BSE at around 02:55 pm.