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Dalmia Cement hikes stake in IEX

Capital Market 

Dalmia Cement (Bharat) purchased another 2.33% stake in power exchange Indian Energy Exchange (IEX) via bulk deal on Wednesday (16 September).

Dalmia Cement (Bharat) bought 70 lakh equity shares (2.33% equity) of IEX at Rs 206.20 each via bulk deal on Bombay Stock Exchange (BSE).

Simultaneously, DPVL Ventures sold 70 lakh equity shares or 2.33% stake at Rs 206.20 per share via bulk deal in IEX on BSE.

Earlier on 10 September 2020, Dalmia Cement (Bharat) bought 51.49 lakh equity shares (1.71% equity) in IEX through bulk deal on BSE.

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 Indian Energy Exchange (IEX) fell 0.88% to Rs 209.20 on BSE. The stock surged 88.38% from its 52-week low of Rs 111.05 hit on 23 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 17 2020. 10:00 IST