IEX achieves a 2% increase on a 15% growth rate, and it records total volumes of 9,707 million units.

The stock of the IEX has generated a return of 30.77 percent over the course of the past six months. Through the same time period, the Nifty50 index, which serves as a benchmark, has generated a return of 10.98 percent.

Shares of Indian Energy Exchange (IEX) experienced a significant increase of nearly 2 percent in early trade on January 4, following an impressive 14.9 percent year-on-year growth in total volumes at 9,707 million units (MU). The IEX stock was trading at Rs 164.24 on NSE at 9:15 a.m.

It is worth mentioning that the total electricity volumes experienced a significant increase of 8.7 percent compared to the previous year, reaching a total of 8,655 MU for the month. In the day-ahead market, the market clearing price was Rs 4.54 per unit, which represented a 13 percent decrease compared to the previous year.

Market activity
Meanwhile, the electricity market experienced a significant surge, with a remarkable 36.4 percent year-on-year increase from December 2022 to December 2023. This data highlights the strong performance and increasing influence of IEX in the energy sector.

A global brokerage firm, UBS, has given IEX a positive rating in their latest report. They have also increased the target price for the stock from Rs 185 per share to Rs 200 per share. The new target price indicates a potential increase of over 25 percent from the current market price.

Performance of IEX Stock

The IEX stock has shown a significant increase of 30.77 percent over the past six months. The Nifty50 index has delivered a return of 10.98 percent over the same duration.

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