Monopoly Business Stock Down 54% from it’s all-time high

Monopoly Business Stock Down 54% from it’s all-time high

In India, there are three Power exchanges. Power Exchange India (PXIL) ,Indian Energy Exchange Limited (IEX) and Hindustan Power Exchanges (HPX). While the former two has been in business since 2008, HPX commenced its operations in July of 2022.

In India, there are three Power exchanges. Power Exchange India (PXIL) ,Indian Energy Exchange Limited (IEX) and Hindustan Power Exchanges (HPX). While the former two has been in business since 2008, HPX commenced its operations in July of 2022.

Indian Energy Exchange Limited is the sole exchange listed in India and currently has a 90 percent market share in the power exchange market in India.

It provides a platform for trading of electricity, green energy, renewable energy.

Here is a link to the interview of Mr. Satya Narayan Goel Chairman & MD IEX which got recently published in ET.

https://energy.economictimes.indiatimes.com/news/power/iex-exploring-opportunity-to-launch-indias-first-carbon-exchange-s-n-goel-chairman-md/94806738

On Stock Exchange the CMP is approx.142 and the company has Market cap of 12,700 crores. A healthy Dividend payout ratio of nearly 45% for the FY 2022. In spite of hefty price correction of nearly 54% from its all time high of 314, it continues to be available on Price to Book Value of nearly 17. 

IEX is also promoter of Indian Gas Exchange which started operation in 2020. 

In recently concluded Quarterly results , the management commented on IGX development as- “Indian Gas Exchange, our first diversification initiative is growing strength to strength backed by the Government of India’s ambition to increase the share of Gas from 6% to 15% by 2030 in the overall energy basket, thereby creating a huge potential for IGX in the years to come”.

The IGX management is expecting its IPO to come by 2025.

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