Indian Energy Exchange surges over 9% as board mulls share buyback

At 9:30 am, the stock was trading 5% higher at Rs 164, having risen 9% on the BSE in intra-day trade as the company said its board will meet on December 20 to consider the share buyback proposal

Shares of Indian Energy Exchange (IEX) surged 9% to Rs 171 per share on the BSE in early morning trade on Friday after the company said its board will meet on Thursday, December 20, 2018, to consider the proposal for buyback of the equity shares of the company.

“The meeting of the 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,” IEX said in a regulatory filing.

The primary objective of share buyback