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IEX declines for second day; has gained over 214% YTD

Capital Market 

Indian Energy Exchange (IEX) fell 2.02% to Rs 715.20, extending decline for second day in a row.

The stock has fallen 3.94% in two sessions, from its recent closing high of Rs 744.50 recorded on 30 November 2021.

On a year-to-date (YTD) basis, the stock has zoomed 214.19% while the benchmark Sensex has added 21.94% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 41.523. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 100-day and 200-day simple moving average (SMA) placed at 594.86 and 472.72, respectively. It is, however, trading below its 50-day SMA placed at 725.56.

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).

The company's consolidated net profit jumped 75.34% to Rs 77.73 crore on 55.64% increase in net sales to Rs 110.38 crore in Q2 FY22 over Q2 FY21.

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

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First Published: Thu, December 02 2021. 13:57 IST