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IEX share holder Buy or Sell comment #iexsharenews #iexshareprice #iex
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Shares of Indian Energy Exchange (IEX) plunged 15 per cent in Friday's trade amid concerns over structural volume growth drivers ahead. If one were to go by Antique Stock Broking, the stock could see a further 10 per cent downside ahead.
Antique said spot market prices will be higher than bilateral prices, unlike in the past which was favourable for exchanges. It said the possibility of a coupling operator can net the power flow within each zone, posing a new challenge for dominant exchanges like IEX. Besides, it noted that incentives by competitor exchanges such as HPX and PXIL can eat into volume growth of IEX
"With the current market price dissociated to underlying changes, we downgrade IEX to sell," the brokerage said in a note. Antique Stock Broking downgraded the stock on a day it plunged 14.98 per cent to hit a low of Rs 116.05 on BSE.
Antique Stock Broking noted that if exchange rates for electricity (spot rates) are lower than bilateral (like PPA) rates, volume shifts to exchanges, as was the case in Dadri-I with Delhi DISCOMs or Barh with Bihar DISCOM. Backing down charges, DSM, and transmission charges too play a role, to bring additional elements in realistic cost savings, it said.
ndian Energy Exchange (IEX) is the premier electricity exchange in India, which facilitates trading of electricity. IEX commands a market share of ~95% in the power exchange market The company has a debt free balance sheet with cash & investments to the tune of ~ ₹ 700 crore
For the past year, IEX has remained richly valued given its clean balance sheet, near monopoly and bright future prospects. We continue to remain positive and retain our BUY rating on the stock.
ntroduction of longer duration delivery bases contracts in power exchanges Bhutan commencing trading in DAM, commencing of trade in hydropower contracts in GTAM Launch of National Open Access Registry and Long duration contracts (up to 365 days) in the first half of CY23
#sharemarket #stockmarket #buyorsell
Antique said spot market prices will be higher than bilateral prices, unlike in the past which was favourable for exchanges. It said the possibility of a coupling operator can net the power flow within each zone, posing a new challenge for dominant exchanges like IEX. Besides, it noted that incentives by competitor exchanges such as HPX and PXIL can eat into volume growth of IEX
"With the current market price dissociated to underlying changes, we downgrade IEX to sell," the brokerage said in a note. Antique Stock Broking downgraded the stock on a day it plunged 14.98 per cent to hit a low of Rs 116.05 on BSE.
Antique Stock Broking noted that if exchange rates for electricity (spot rates) are lower than bilateral (like PPA) rates, volume shifts to exchanges, as was the case in Dadri-I with Delhi DISCOMs or Barh with Bihar DISCOM. Backing down charges, DSM, and transmission charges too play a role, to bring additional elements in realistic cost savings, it said.
ndian Energy Exchange (IEX) is the premier electricity exchange in India, which facilitates trading of electricity. IEX commands a market share of ~95% in the power exchange market The company has a debt free balance sheet with cash & investments to the tune of ~ ₹ 700 crore
For the past year, IEX has remained richly valued given its clean balance sheet, near monopoly and bright future prospects. We continue to remain positive and retain our BUY rating on the stock.
ntroduction of longer duration delivery bases contracts in power exchanges Bhutan commencing trading in DAM, commencing of trade in hydropower contracts in GTAM Launch of National Open Access Registry and Long duration contracts (up to 365 days) in the first half of CY23
#sharemarket #stockmarket #buyorsell
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