Espresso shot of the day – Indian Energy Exchange Ltd up by 10.69 percent

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Espresso shot of the day – Indian Energy Exchange Ltd up by 10.69 percent

August 30, 2021
Espresso shot of the day – Indian Energy Exchange Ltd up by 10.69 percent

INDIAN ENERGY EXCHANGE LTD 480.35 (+10.69%) BSE – INE022Q01020 | 30THAUGUST 2021


Indian Energy Exchange is India’s premier energy marketplace, providing a nationwide automated trading platform for the physical delivery of electricity, renewables and certificates. More recently, IEX has pioneered cross-border electricity trade, expanding its power market beyond India in an endeavour to create an integrated South Asian Power Market. IEX is powered by state-of-the-art, intuitive and customer-centric technology, enabling efficient price discovery and facilitating the ease of power procurement. IEX has a robust ecosystem of 6800+ participants located across 29 states and 5 union territories, comprising 55+ distribution utilities and 500+ conventional generators. It also has a strong base of 4400+ commercial and industrial consumers, representing industries such as such as Metal, Food Processing, Textile, Cement, Ceramic, Chemicals, Automobiles, Information Technology, Institutional, Housing & Real Estate and Commercial entities. The Exchange has ISO certifications for quality management, information security management and environmental management since August 2016 and is approved and regulated by the Central Electricity Regulatory Commission and has been operating since June 27, 2008.

Recent Drivers

  • On Aug 17, 2021, according to Rohit Bajaj, Head-Business Development & Senior Vice President at IEX, IEX has been seeing significant participation from the open access consumers from the state of Uttar Pradesh. The reduction in cross-subsidy surcharge by the UPERC for the open access consumers is a welcome and definitely a progressive step in ensuring industrial and economic growth in the state. All 1 MW and above industrial/commercial consumers can save almost up to Rs 1 per unit. This development enables the state industry to significantly lower their operational costs and accelerate the overall economic growth of the state, which is critical in the COVID-induced economic slowdown.
  • On Aug 2, 2021, Vedanta Aluminium said it procured 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX for its aluminium production facility at Jharsuguda, Odisha.
  • On July 26, 2021, Indian Energy Exchange Ltd. reported quarterly net profit at Rs 63.62 crores in June 2021, up 48.35% from Rs 42.88 crores in June 2020.
  • On July 26, 2021, Indian Energy Exchange reported net sales at Rs 90.46 crores in June 2021, up 36.43% from Rs 66.31 crores in June 2020.
  • On July 22, 2021, the Board of Directors recommended final dividend of Rs 1.5 per equity share of Re 1 each for the financial year ended Mar 31, 2021. The dividend will be paid within 30 days from the date of shareholder’s approval at the ensuing Annual General Meeting of the company.
(Sources: Business Standard,  Moneycontrol, BSE India)


Technical Force*

  • S&P BSE 500 month till date gain up by 5.37%
  • Traded on all time high value of 486.7
  • Spurt in volume by more than 5.41 times compared to previous volume | 3 months avg. volume: 2,73,172
  • Quantity traded: 10,16,660 | Deliverable quantity: 5,36,681 (52.79%)
  • Stock price has jumped more than 160% from one-year low level: 181 (Nov 4, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 486.7 | 52-week-low: 181

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

391.32

311.93

269.82

190.43

148.32

68.93

26.82

55.05

Fibonacci Pivot

311.93

265.52

236.85

218.38

190.43

162.49

144.02

115.35

68.93


Today’s Close

480.35

SMA

BSE

10 DAY

424.97

20 DAY

420.50

50 DAY

409.45

200 DAY

322.62


Some Key Ratios (Source: BSE)

Market Cap: 14,389.2 crores

PE: 55.5

OPM%: 97.24

ROE%: 44.08

Promoters holding%: –

Prev. Close: 433.95

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.