Shares of the Indian Energy Exchange rose 4.04 percent on Friday, May 05, after the company informed through an official filing that its total trade volume increased by 6 percent on a yearly basis to 7,928 million units (MU) in April.
However, the overall volumes showed a 14 percent decrease on a month-on-month basis.
"It achieved 7,928 MU overall volume in April 2023, including green market trade of 280 MU, 1.99 lac RECs (equivalent to 199 MU) and 1.23 lac ESCerts (equivalent to 123 MU)," the company stated.
During Friday’s trade, the stock opened at a price of Rs. 155.85 per share and grew further during the early trading session to touch an intraday high of Rs. 162.15. It was trading at ₹158.40, up by 1.64 percent, at 11:20 a.m. on the NSE.
The stock touched a 52-week high of Rs. 207.10 on May 05, 2022 and a 52-week low of Rs. 125.80 on March 29, 2023, indicating that at the current level, the stock is trading over 26 percent above its 52-week low and 23 percent below its 52-week high.
The stock has grown nearly 16.56 percent in the last one month. However, in the past one year, it has declined by over 20 percent. Moreover, the stock yielded a positive return of almost 195 percent in the last five years.
In April, the price per unit was recorded at ₹5.41, down by 46 percent from last year's figure of ₹10 per unit. The dip in price can be attributed to both milder weather conditions and an improvement in the supply-side scenario that increases liquidity.
The High Price DAM (HAM) segment began trading with a volume of 193 MWh (megawatt hour) during the month, allowing high-cost electricity generators such as gas-based power generators, imported coal-based plants, and battery energy storage systems to sell their electricity on the market.
According to the exchange, there is an anticipated increase in power demand in the coming months, while the supply-side liquidity is expected to remain stable due to improved coal supply. This is expected to lead to competitive prices and higher clearance for discoms.
Indian Energy Exchange Ltd., a mid-cap company operating in the financial services sector and incorporated in 2007, has a market capitalization of ₹14,081.67 crore. The company is one of the largest power exchange platforms in the country and provides services such as electricity trading, energy derivatives trading, renewables trading, etc.
