Board of Multibagger Mid-Cap Stock Approves Rs 98 Crore Buyback: Key Takeaways

Board of Indian Energy Exchange Ltd (IEX) has on Friday, November 25, 2022 has given approval to the share buyback of approximately 98 crore at a price not going beyond Rs 200 per share via open market route. The shares of the company rallied 2.28% intraday to settle at Rs 150 apiece. Check key takeaways below:

1. Indian Energy Exchange Gives Nod To Rs 98 Crore Share Buyback

The board of directors of Indian Energy Exchange stated in the regulatory filing today, "Approved the proposal of Buyback of fully paid-up equity shares having a face value of Re 1 each of the company at a price not exceeding Rs 200 per equity share and not exceeding Rs 98 crore payable in cash via open market route."

2. Indian Energy Exchange Stock Outlook

The current market price of the stock is Rs 150 apiece with over 2% intraday gain. The stock's 52-week high is Rs 304 apiece and 52-week low is Rs 133 apiece, respectively.

3. Indian Energy Exchange Market Capitalisation

The company has a market capitalisation of Rs 13,515 crore.

4. Indian Energy Exchange Return

The stock has given multibagger returns to shareholders with 191% return in last 5-years, 212% return in last 3-years, and declined 41% in last 1-year. The stock has jumped 8% in last 1-month and again 8% in last 1-week.

5. About Indian Energy Exchange

Indian Energy Exchange is India's premier energy marketplace, providing a nationwide automated trading platform for the physical delivery of electricity, renewables, and certificates.

More recently, IEX has pioneered cross border electricity trade expanding its power market beyond India in an endeavour to create an integrated South Asian Power Market. IEX is powered by state-of-the-art, intuitive and customer centric technology, enabling efficient price discovery and facilitating the ease of power procurement, according to its official website.

Disclaimer

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