IEX shares soar after power trading platform logs record volume in January

Indian Energy Exchange (IEX) shares jumped on Tuesday (February 6), a day after the electricity exchange said its total volumes reached a record level last month. The IEX stock gained by as much as Rs 6.9, or 4.7 per cent, to Rs 153.4 apiece on BSE, rising for a second straight session.

After market hours on Monday, the company, in a monthly business update, said its total volumes reached 10,893 million units (MU) in January, marking a year-on-year increase of 26.1 per cent.

The volumes comprised 9,137 MU from the conventional power market segment, 236 MU from the green market segment, and 15.20 lakh Renewable Energy Certificates (RECs) equivalent to 1,520 MU, according to the company.

IEX said it expects the rise in volumes to continue going forward. Increased electricity consumption coupled with easing supply side constraints led to an increase in the volumes of electricity traded on the exchange, it said.

At 12:20 pm, IEX shares held on firmly to the green, up 3.8 per cent at Rs 152.1 apiece on BSE.

IEX shares: Past performance

IEX shares have gained about nine per cent in the past year, sharply underperforming headline index Nifty’s 23 per cent rise.

What does IEX do?

IEX offers an online electricity trading platform for trading, clearing, and settlement operations.