IN­DIAN EN­ERGY EX­CHANGE

Flash News Investment - - RECOMMENDATIONS -

Ticker: 540750 {FV: ₹1 {52-Week H/L: ₹177.10/140.50

We had rec­om­mended In­dian En­ergy Ex­change in Vol­ume No 34, Is­sue No 48 (dated Sept 17, 2018), when the scrip was trad­ing at Rs 1704. Our rec­om­men­da­tion was based on fac­tors like huge growth po­ten­tial and strong fi­nan­cial per­for­mance. The man­age­ment is op­ti­mistic of de­liv­er­ing dou­ble digit growth in the up­com­ing quar­ters. Con­stant vol­ume growth with sta­ble pric­ing is help­ing the com­pany to grow fur­ther. Man­age­ment is fo­cus­ing on gain­ing share from li­censed traders for boost­ing its vol­umes. Spot power trad­ing at IEX touched 293 mil­lion units in Septem­ber, mak­ing it the high­est daily vol­ume of elec­tric­ity traded in the mar­ket till date. High tem­per­a­tures in Delhi, Ma­ha­rash­tra and cen­tral In­dia in Oc­to­ber has led to higher de­mand for IEX. Thus, we urge in­vestors to HOLD the scrip.

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