IEX rises over 5% as its board to consider buyback proposal

Shares of Indian Energy Exchange rose 5.6% to Rs 146.15 in Monday's intraday trade after the company announced that its board will consider a buyback proposal on November 25.

In its regulatory filing, IEX said, “We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on Friday, November 25, 2022, inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the company.”

At 10.28 am, the scrip war trading 4.6% higher at Rs 144.75 over its previous day’s closing price of Rs 138.40 per share. However, the stock has fallen 25% in the last six months, while it has plunged about 44% year-to-date.


For the quarter that ended September 30, 2022, IEX reported consolidated revenue of Rs 113.8 crore, up 0.3% from the first quarter of FY23. The company reported a 3% QoQ growth in net profit at Rs 71.2 crore for the latest quarter.

Indian Energy Exchange is India's premier energy marketplace, an automated trading platform for the physical delivery of electricity, renewables and certificates.