IEX surges ~5% as board to consider share buyback on November 25

21 Nov 2022 , 09:18 AM

Indian Energy Exchange Limited informed that its board of directors will consider a buyback proposal on November 25, 2022.

“We would like to inform you that the board of directors is considering a meeting to be held on Friday, November 25, 2022. The board will consider a proposal for buyback of fully paid-up equity shares of the company in the said meeting,” IEX said in a BSE filing.

IEX reported consolidated revenue of Rs113.80 crore for the quarter ended September 30, 2022, up 0.3% from the first quarter of FY23. For the most recent quarter, the company reported a 3% year-on-year increase in net profit to Rs71.20 crore.

Indian Energy Exchange is the country’s leading energy marketplace, offering an automated trading platform for the physical delivery of electricity, renewables, and certificates.

At around 9.22 AM, Indian Energy Exchange was trading at Rs144.75 up by 4.59% from its previous closing of Rs138.40 on the BSE. The scrip opened at Rs142.70 and touched intraday high and low of Rs145 and Rs141.45 respectively.

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