The board of Indian Energy Exchange (IEX) approved further investment in Indian Gas Exchange (IGX) through rights issue of equity shares.
The board of IEX approved further investment of Rs 6.25 crore in IGX by subscribing its equity shares through rights issue. IEX holds 100% shareholding in Indian Gas Exchange (IGX), which provides an automated trading platform for transacting, clearing and settling trades in various types of gas based contracts.
IEX's consolidated net profit rose 6.3% to Rs 42.09 crore on a 12.1% rise in net sales to Rs 67.88 crore in Q1 June 2020 over Q1 June 2019.
IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).
Shares of IEX declined 2.41% to Rs 208.50 on BSE. The stock has surged 87.75% from its 52-week low of Rs 111.05 hit on 23 March 2020.
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