IEX surges on reporting 16% growth in electricity traded volume during November 2024
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Indian Energy Exchange is currently trading at Rs. 178.95, up by 0.85 points or 0.48% from its previous closing of Rs. 178.10 on the BSE.
The scrip opened at Rs. 183.00 and has touched a high and low of Rs. 183.40 and Rs. 176.55 respectively. So far 422321 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 244.35 on 24-Sep-2024 and a 52 week low of Rs. 129.15 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 183.40 and Rs. 171.50 respectively. The current market cap of the company is Rs. 15970.22 crore.
The Institutions and Non-Institutions held 47.14% and 52.86%, stake in the company respectively.
Indian Energy Exchange (IEX) has achieved electricity traded volume of 9,689 million units (MU) in November 2024, marking a 15.7% year on year increase. During the month, IEX traded 5.46 lakh renewable energy certificates recording a 27.7% year on year decrease.
According to government data published in November 2024, the country's energy consumption reached 125 BUs, increase of 5% compared to the previous year. Despite an increase in power demand, the Market Clearing Price in the Day Ahead Market at Rs 3.30/unit during November 2024, declined 17.3% year-on-year. Similarly, the Market clearing price in the Real Time Market at Rs 3.46/unit during November 2024, declined 13.4% year-on-year.
Prices were low due to high supply side liquidity. On a monthly basis, these are the lowest prices discovered this fiscal year. These prices present an opportunity for Discoms and Open Access consumers to replace costlier power through purchasing through exchanges.
The Day-Ahead Market (DAM) achieved 5,651 MU volume in November 2024 as compared to 5,144 MU volume in November 2023, an increase of 9.8% year on year.
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.
