Indian Energy Exchange (IEX) on Thursday posted a nearly 17 per cent rise in its consolidated net profit to Rs 107.29 crore, mainly driven by higher revenues. The company had reported a consolidated net profit of Rs 91.80 crore for the quarter ended December 31, 2023, a BSE filing showed. Its total income rose to Rs 160.53 crore in the quarter from Rs 141.21 crore a year ago. The Board of Directors has also approved the payment of an interim dividend of Rs 1.50 per equity share, having a face value of Re 1 each for 2024-25. The record date for ascertaining the name of members/beneficial owners entitled to receive the interim dividend is Friday, January 31, 2025. IEX, in a statement, said that during the quarter, IEX achieved an electricity traded volume of 30.5 billion units (BU), marking a 15.9 per cent year-on-year rise and traded 26.52 lakh Renewable Energy Certificates (RECs), recording a 31 per cent growth. According to the statement, adequate availability of fuel in this qu
Technically, the term 'Death Cross' indicates a weak set-up as the stock's 50-day moving average has dropped below the long-term 200-day moving average.
Indian Energy Exchange (IEX) on Monday said it has achieved its highest-ever monthly electricity traded volume of 11,132 Million Unit (MU) in December, marking a 29 per cent increase on a year-on-year basis. During the month, IEX traded 16.62 lakh renewable energy certificates, recording a 58 per cent year-on-year (Y-o-Y) increase, an IEX statement said. For the nine months of the fiscal 2025, IEX achieved electricity traded volume of 88,981 MU, marking a 19 per cent Y-o-Y increase, according to the statement. For the third quarter of the fiscal 2025, IEX achieved electricity traded volume of 30,464 MU, marking a 16 per cent Y-o-Y increase. During the quarter, IEX traded 26.52 lakh renewable energy certificates, recording a 31 per cent Y-o-Y increase. During the month, the Day Ahead Market segment at IEX recorded a 57 per cent Y-o-Y increase in supply-side volumes. This rise in supply helped moderate prices. For the month of December 2024, the Market Clearing Price in the Day Ahea
Waaree Energies Ltd on Monday said its board has approved three investment proposals aggregating Rs 850 crore to set up electrolyser and storage cell manufacturing facilities. The board also approved capital expenditure (capex) of Rs 130 crore in invertor business through its wholly-owned subsidiary Waaree Power Private Limited. The board approved "capital expenditure of Rs 551 crore and investment of Rs 200 crore for 300 MW electrolyser manufacturing plant in its wholly-owned subsidiary Waaree Clean Energy Solutions, under the PLI Scheme," Waaree Energies said in an exchange filing. It also approved a capital expenditure of Rs 2,073 crore and an investment of Rs 650 crore for setting up a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing plant in its wholly-owned subsidiary Waaree Energy Storage Solutions. The capex will be funded by a mix of debt and internal accruals, the company said. The board further approved the appointment of Amit Paithanka, Chief Executive
Indian Energy Exchange's (IEX) total trade volume rose 4 per cent year-on-year to 9,642 million units (MU) in October this year. During the month, the exchange-traded 4.44 lakh renewable energy certificates (RECs), recording a 105 per cent year-on-year increase. It has achieved electricity traded volume of 9,642 million units (MU) in October 2024, marking a 4 per cent year-on-year increase, IEX said in a statement. A total of 4.44 lakh RECs were traded in the trading sessions held on October 9 and 30 at a clearing price of Rs 110/REC and Rs 120/REC, respectively. The Day-Ahead Market (DAM) volume declined 7 per cent to 4,388 MU in October from 4,742 MU volume in the same month last year. The Real-Time Electricity Market (RTM) achieved a monthly volume of 3,123 MU in October 2024 compared to 2,402 MU a year ago, a rise of 30 per cent. IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 872 MU volume during October 2024 against 188 MU in
Indian Energy Exchange (IEX) on Thursday posted over 25 per cent rise in consolidated net profit at Rs 108.32 crore for the quarter ended September 30, 2024 compared to the year-ago period mainly due to higher revenues. The company had reported a consolidated net profit of Rs 86.46 crore in the quarter ended on September 30, 2023, a regulatory filing showed. Total income rose to Rs 167.76 crore in the quarter in the quarter under review, from Rs 132.97 crore in the same period a year ago.
IEX doesn't see any merit in market coupling for power exchanges and believes that there will be more complexities in its implementation, than gains.
Indian Energy Exchange (IEX) total trade volume rose 35.8 per cent year-on-year to 12,040 million units (MU) in August this year. The electricity volume increased 17.1 per cent year-on-year to 9,914 MU in August, an IEX statement said. According to the statement, IEX achieved total (trade) volume (including certificates) of 12,040 MU in August 2024, marking a 35.8 per cent year-over-year increase. The renewable energy certificates (REC) at 2,116 MU, increased 737.4 per cent year-on-year. At Rs 115 per certificate, the REC market recorded an all-time low price in the trading session held on August 28, 2024. These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their renewable purchase obligations, and voluntary customers to meet their sustainability aspirations. As the monsoon gained momentum in August, there was a substantial increase in hydro and wind power generation, enhancing the overall availability of renewable energy in the
Indian Energy Exchange (IEX) board on Friday approved the proposal to reappoint Satyanarayan Goel as its Chairman and Managing Director and to appoint Rohit Bajaj as its Joint Managing Director. The board noted that Goel will attain the age of 70 years on August 10, 2024, and consequently, as per Companies Act, 2013, his term as Managing Director will end from the closure of the business hours on August 9, 2024, a BSE filing said. The board acknowledged Goel's extensive knowledge and over 40 years of experience in the power sector, it said, adding that as part of succession planning, the board unanimously agreed to reappoint Goel as the Chairman & Managing Director for three years from August 10. The board decided to elevate Rohit Bajaj, currently serving as Executive Director (non-board) -- Business Development, Strategy, Regulatory Affairs, and IT, as the Joint Managing Director for three years from August 10, it stated. The board also approved appointment of Rajeev Gupta as the
The Indian Energy Exchange (IEX) has posted a 9.5 per cent rise in consolidated profit after tax at Rs 96.7 crore for the March 2024 quarter on account of higher income. It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday. The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY23. During the period under review, its expenses stood at Rs 22.65 crore, as against Rs 19.52 crore a year ago. In FY24, the consolidated PAT rose 14.7 per cent to Rs 350.78 crore, from Rs 305.88 crore in FY23. Income for the full year was at Rs 550.84 crore, up from Rs 474.10 crore. The Board of Directors of the company announced a final dividend of Rs 1.50 for FY24. Sharing business updates, IEX said 110.1 billion units of electricity traded on its platform during the fiscal year 2023-24, registering a year-on-year (y-o-y) increase of 13.7 per cent. The DAM (day-ahead ma
The Indian Energy Exchange on Thursday posted a nearly 19 per cent rise in consolidated net profit at Rs 91.80 crore in the December quarter, compared to the year-ago period mainly on the back of higher revenues. Its consolidated net profit was Rs 77.21 crore in the quarter ended December 31, 2022, according to a regulatory filing. The total income rose to Rs 141.21 crore in the quarter, from Rs 117.34 crore in the same period a year ago. Board of Directors in its meeting held on Thursday have declared an interim dividend of Rs one per share (on equity share of par value of Re 1 each) for FY 2023-24.
Stocks to Watch on Thursday, January 4, 2024: The board of directors of Adani Ports and Special Economic Zone Limited (APSEZ) has approved raising funds up to Rs 5,000 crore
The Indian Energy Exchange (IEX) on Monday posted 17.5 per cent growth in its overall trade volume to 9,136 million units (MU) in November 2023 as compared to the year-ago period. The exchange had recorded total trade volume of 7,764 MU in November 2022, as per IEX data. "IEX achieved 9,136 MU overall volume, including 7.55 lakh Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5 per cent increase on YoY (year-on-year) basis," an IEX statement said. IEX achieved 8,371 MU total electricity volume in November 2023, registering an increase of 13 per cent on YoY basis. Market clearing price in Day Ahead Market (DAM) during November 2023 was Rs 3.98 per unit, down 13 per cent year-on-year, due to various factors including lower demand owing to festive season, temperature drop and improved sell side liquidity on the exchange, it stated. Price on the exchange has been experiencing a downward trend and the average monthly price is at its lowest level this financia
EEIPL, through this deal will be able to augment the value offering of its Material Waste Platform (MWP)
Indian Energy Exchange (IEX) logged around 13 per cent growth in overall trade volume to 9,147 million units (MU) in September. It reported an overall trade volume of 8,116 MU in the year-ago period, an IEX statement said on Wednesday. IEX achieved 9,147 MU overall volume, including green market trade of 230 MU, 5.15 lakh RECs (Renewable energy certificates, equivalent to 515 MU) and 1.06 lakh ESCerts (energy saving certificates, equivalent to 106 MU). According to the statement, the overall volume traded during the month increased 13 per cent on a Year-on-Year (YoY) basis. The demand momentum witnessed in August 2023 continued in September 2023, it stated. For the second quarter of the fiscal year 2023 (July-September), the IEX achieved 26,533 MU, resulting in 15 per cent YoY growth across market segments. The Day-Ahead Market (DAM) achieved 3,467 MU volume in September. The average market clearing price was Rs 6.23 per unit in September as compared to Rs 5.63 per unit in Septem
More than 100 paper mills are expected to come under the energy efficiency scheme Perform Achieve and Trade (PAT) by next year as players are adopting technology to reduce their energy footprint, an industry body said on Wednesday. The paper industry has reduced its specific energy consumption by 20 per cent in the last five years, the Indian Paper Manufacturers Association (IPMA) said in a statement. Integrated paper mills in India are generating over 40 per cent of the power consumption by utilising the biomass from the pulping process, the IPMA said. "More than 100 paper mills are expected to come under the ambit of the PAT scheme in the next one year, IPMA Vice President Vadiraj Kulkarni said in his address at Paper Tech 2023. Specific water and energy consumption is being reduced continuously to lessen the carbon footprint, he added. IPMA said it has welcomed the government's Carbon Credit Trading Scheme 2023 under which an Indian Carbon Market would be constituted. The exis
India's initiatives have already laid some of the groundwork for the proposed infrastructure corridor
Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.
Indian Energy Exchange's total trade volume rose by over 13 per cent year on year to 8,865 million units in August. The total trade volume of IEX stood at 7,805 million units (MU) as per its data. "IEX attained 8,865 MU overall volume, including green market trade of 242.3 MU, ancillary market trade of 40MU, 2.53 lakh RECs (equivalent to 253 MU) and 1.03 lakh ESCerts (equivalent to 103 MU)," an IEX statement said. The overall volume traded during the month increased to 13.3 per cent on YoY (year on year) basis. IEX achieved 8,469 MU total electricity volume in August 2023, registering an increase of 21 per cent on YoY basis, the statement said. In August 2023, the country experienced its lowest August rainfall since 1901, resulting in hot weather conditions. This, in turn, led to an unprecedented surge in electricity demand during the month, it explained. Due to the combination of higher demand and supply constraints, prices on IEX during the month reached Rs 6.89/unit, marking a
Indian Energy Exchange on Thursday posted a 10 per cent increase in consolidated net profit to Rs 75.82 crore in the June quarter on the back of higher revenues. The consolidated net profit of the company was Rs 69.12 crore in the first quarter of the previous fiscal, according to a BSE filing. Total income of the company rose to Rs 127.36 crore in the first quarter of the current fiscal from Rs 113.39 crore a year ago. The exchange's board has approved the re-appointment of Sudha Pillai and Tejpreet Singh Chopra as non-executive independent directors for another five years after their respective terms end next year. The current term of Pillai will expire on April 25, 2024 and that of Chopra on March 4, 2024.