India Energy Exchange Turns Ex-Bonus; Shares Surge 15%

India Energy Exchange Turns Ex-Bonus; Shares Surge 15%

Shares of the country’s energy marketplace, India Energy Exchange (IEX), rose as much as 15 per cent to hit an intraday high of Rs 278.70 after the stock turned ex-bonus in ratio of 2:1. The company has fixed December 6, 2021 as the record date for ascertaining the eligibility of shareholders entitled for issuance of bonus equity shares of the company in the proportion of two equity shares of Rs 1 each for every one existing equity share of Rs 1.

India Energy Exchange shares have staged a strong rally as the stock has jumped 30 per cent over the last one year compared with gain of 12 per cent in the Sensex, data from stock exchanges showed.

In Friday’s session, India Energy Exchange shares were witnessing higher than usual trading volume as 26.87 lakh shares changed hands compared with an average of 4.56 lakh shares traded daily in the past two weeks. On the National Stock Exchange over 4 crore shares changed hands.

Indian Energy Exchange is India’s premier energy marketplace, providing a nationwide automated trading platform for the physical delivery of electricity, renewables, and certificates. More recently, IEX has pioneered cross border electricity trade expanding its power market beyond India in an endeavour to create an integrated South Asian Power Market. IEX is powered by state-of-the-art, intuitive and customer centric technology, enabling efficient price discovery and facilitating the ease of power procurement.

As of 11:29 am, India Energy Exchange shares traded 7.24 per cent higher at Rs 260.80 outperforming the Nifty which was down 0.05 per cent.

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