Shares of Indian Energy Exchange (IEX) hit 52-week low of ₹150.50 per share on the BSE Sensex. As of 1.07 pm on September 21, 2022, the shares were trading at ₹150.75 per share, down 1.66%.
The shares of IEX opened the day at ₹152.80 per share and touched a high of ₹154.50 and a low of ₹150.05.
12 analysts polled by MintGenie have a ‘sell’ call on the stock.
Power prices in the country are likely to fall going ahead with demand expected to ease in the coming months, said Rohit Bajaj, head of business development at Indian Energy Exchange (IEX) told Mint in an interview dated September 13, 2022.
He further said, “We are almost flat in terms of volume till August. There is no growth till now. But, going forward, we expect things are going to reverse.”
Bajaj said, “We believe that the worst is behind us. Though demand is going to be there in the coming months, coal stock position is much better. So, prices will not probably go to that level. It has started to ease out now. It will only improve going forward. November onwards, the overall demand will be less. In September, the hydro generation will continue to be there. That is also supporting us in a big way."
Earlier this month, Business Standard reported, the total trade volume of Indian Energy Exchange (IEX) registered an 18 per cent annual decline in August to 7,805 MU (million units).
IEX in a statement had said, “The supply-side constraints continued due to high prices of imported coal, fuel shortage and increased e-auction prices.”