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IEX soars on reporting 28.9% growth in total volume in May 2024
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Indian Energy Exchange is currently trading at Rs. 164.45, up by 7.40 points or 4.71% from its previous closing of Rs. 157.05 on the BSE.
The scrip opened at Rs. 162.00 and has touched a high and low of Rs. 167.50 and Rs. 160.25 respectively. So far 2794668 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 173.30 on 01-Jan-2024 and a 52 week low of Rs. 116.05 on 09-Jun-2023.
Last one week high and low of the scrip stood at Rs. 167.50 and Rs. 134.30 respectively. The current market cap of the company is Rs. 14802.10 crore.
The Institutions and Non-Institutions held 38.15% and 61.86% stake in the company respectively.
Indian Energy Exchange (IEX) has achieved monthly overall volume of 10,633 million units (MU), in May 2024, marking a 28.9% Year-over-Year (YoY) increase. The electricity volumes at 9,568 MU, increased 21% YoY. The renewable energy certificates (REC) at 1,055 MU, increased 640.3% YoY. At Rs 165 per certificate, the REC market recorded an all-time low price in the trading session held on May 29, 2024. These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.
Proactive measures taken by the government and the regulators, including the sale of surplus unrequisitioned power on power exchanges, increased fuel supply and ensuring higher availability of generating units led to an increased sell liquidity on the exchanges which kept the prices under control on exchanges. Therefore, despite the increase in the electricity consumption the market clearing price in Day Ahead Market during May 2024 was Rs 5.3/unit, lower by more than 20% as compared to prices discovered under bilateral contracts.
According to government data published in May 2024, the country's energy consumption reached 156.3 BUs, representing 15% increase on a YoY basis. Notably, on May 30, 2024, the country witnessed an all-time high peak demand of 250 GW along with the highest ever single day energy consumption of 5,466 MU.
IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates.
