IEX shares rally 9% in 3 days after Q4 results beat

For fiscal year 2024, the board of directors also announced a final dividend of Rs 1.50, equivalent to 150% of the face value of equity shares.

The improved supply scenario resulted in increased sell at IEX, despite an increase in the country’s demand in the fiscal year 2024. In FY24, the sell liquidity on the exchange increased by 17% YoY, stated the company in a filing to the exchanges.

Domestic brokerage firm Nuvama, while commenting on IEX’s Q4 performance, stated that they see a limited upside in the stock despite factoring in 17% volume growth in FY24–26E (13% in FY24), and long-term growth of 14–15% and hence retained a ‘reduce’ rating on with a target price of Rs 119.

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IEX shares have gained 14.75% in the last 6 months while in the current calendar year, it has decreased by 5.6%.

IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of , renewable power, renewable energy certificates and energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.

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