IEX rises over 5% on buyback proposal

Shares of Indian Energy Exchange (IEX) Friday surged over 5 per cent after the company said its board will meet next week to consider the proposal to buyback the firm's equity shares.

The shares rose 5.17 per cent to settle at Rs 164.75 on the BSE. Intra-day, it gained 9.16 per cent to Rs 171.

On the NSE, the stock increased 3.95 per cent to end at Rs 163.1. During the trading session, it touched a high of Rs 164.8, higher 5.03 per cent from the previous close.

In terms of the equity volume 16,000 shares were traded on the BSE, while over 90,000 scrips changed hands on the NSE.

"The meeting of board of directors of the company will be held on Thursday, December 20, 2018 at New Delhi, inter alia to consider the proposal for buyback of the fully paid-up equity shares of the company," the company said in a regulatory filing Thursday.