NSE, ONGC stake pick drives IEX to new high
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The shares of Indian Energy Exchange (IEX) Ltd recorded fresh highs on Friday after the company entered into a strategic partnership with the National Stock Exchange of India Limited (NSE) and Oil and Natural Gas Corporation Limited (ONGC) to build gas markets.
IEX closed at ₹328.40 on the BSE, up ₹19.90 or 6.45 per cent. It hit a 52-week high of ₹349.00. It opened at ₹309.25 as against the previous close of ₹308.50.
On the NSE, it closed at ₹327.75, up ₹19.80 or 6.43 per cent. It hit a 52-week high of ₹349.00.
IEX, India’s premier Energy Exchange, on March 10 announced a strategic divestment of 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to NSE through its wholly owned subsidiary NSE Investments Ltd and an additional 5 per cent equity holding to ONGC, a Maharatna Central Public Sector Undertaking.
The shares of Indian Energy Exchange (IEX) recorded fresh highs on Friday after the company entered into a strategic partnership with the National Stock Exchange of India and Oil and Natural Gas Corpo
IEX Enters into Strategic Partnership with NSE & ONGC to Build Gas Markets equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
IEX Offloads Stake in Indian Gas Exchange
The Indian Energy Exchange (IEX) on March 10 said it has divested 26% equity holding in its subsidiary Indian Gas Exchange (IGX) to the National Stock Exchange of India. IEX has also sold 5% equity to state-run explorer ONGC.
IGX is India s first gas exchange after it secured authorisation from Petroleum and Natural Gas Regulatory Board (PNGRB) in December last year. IEX recently announced the strategic investments of 5% each by leading players in the gas value chain – Adani Total Gas, Torrent Gas, and Gail in IGX.
According to IEX, IGX has an eco-system of more than 6,500 market participants which includes all the distribution utilities in the country, the power generators as well as more than 4,500 open access consumers. The IGX offers trade in five contracts, including daily, weekly, weekday, fortnightly, and monthly, at three physical hubs - Hazira and Dahej in Gujarat and KG basin in Andhra Pradesh. It has 500 registere
ONGC buys 5% stake in Indian Gas Exchange
ONGC. Photo: Livemint
March 11, 2021
Oil and Natural Gas Corp (ONGC) on Wednesday said it has acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining likes of Adani Total Gas, Torrent Gas and GAIL in nation’s first gas exchange.
“ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX) in the presence of Oil Secretary Tarun Kapoor and ONGC head Shashi Shanker,” the company said in a statement.
The Indian Gas Exchange is a subsidiary of the IEX – India’s premier nationwide, automated electricity trading platform. Earlier this year, the IEX announced the strategic investments of 5 per cent each by leading players in the gas value chain – Adani Total Gas, Torrent Gas and GAIL (India) Ltd in IGX.