IEX stock hit an intraday low of Rs 135.40, down 8.97% against the previous close of Rs 148.75 on BSE. Later, the stock closed 8.24% lower at Rs 136.50 on BSE.
Shares of Indian Energy Exchange (IEX) are trading at a 51% discount to their 52-week high. IEX stock stood at Rs 147.90, down 0.47% today against the previous close of Rs 148.60. The current market price amounts to a 51.3% discount to the 52-week high of Rs 304.05 hit on December 10, 2021. IEX shares are trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. It has lost 39.81% in a year and fallen 41.53% this year.
Indian Energy Exchange stock gained 5.6% to Rs 146.15 against the previous close of Rs 138.40 on BSE. The share has lost 44.26% in a year and fallen 42.8 per cent in 2022
Going forth, the company expects an increase in liquidity on the exchange platform leading to reduction in prices, which will provide opportunity to discoms to optimize their power procurement