Indian Energy Exchange (Rs. 295.00) (Code: 540750) Established in 2007,
Indian Energy Exchange is a power trading platform. The company had come out with an IPO in October 2017 and issued shares at Rs. 1650 apiece. It had later split the equity shares of face value of Rs. 10 into ten shares of Re. 1. The stock has just gone ex-bonus. The A group listed shares touched a 52-week high of Rs. 318 and low of Rs. 66.
IEX is a professionally-run company. Flis hold 37.74% stake, mutual funds 15.86%, Dlls 7.28%, while public shareholding is 39.13%. Its equity is Rs. 30.16 crore and reserves of Rs. 600 crore. Its market cap is Rs. 26,533 crore.
For the September quarter, its income went up from Rs. 71 crore to Rs. 109 crore, and profit from Rs. 47 crore to Rs. 78 crore. The quarterly EPS was Rs. 0.87. The shares are quoting at a P/E multiple of 100, which is expensive, but the sector has a bright future. Investors can consider putting a small amount in IEX shares.