Indian Energy Exchange up 5 per cent

Our Bureau Mumbai | Updated on October 22, 2021

Price buoyed by strong Q2 results, bonus issue announcement

The shares of Indian Energy Exchange soared 5 per cent on Friday morning on the back of strong results for the quarter ended September 2021 and the announcement of bonus issue in the ratio of 2:1.

At 10:20 am, IEX was trading at ₹796.60 on the BSE, up ₹39.45 or 5.21 per cent. It had opened at an intraday high of ₹832.85 as against the previous close of ₹757.15. It recorded an intraday low of ₹777.60.

On the NSE, it was trading at ₹796.30, up ₹38.35 or 5.06 per cent.

Also see: IEX Q2 net up 75 per cent to ₹ 77 cr; announces 2:1 bonus

The company on Thursday reported a higher consolidated profit at ₹77.72 crore in Q2FY22 against ₹44.33 crore in Q2FY2. Its revenue jumped to ₹110.37 crore from ₹70.91 crore year-on-year.

The company has recommended a bonus issue of equity shares in the proportion of 2 equity shares of ₹1 each for every 1 existing equity share of ₹1 each held by the shareholders.

It is planning to issue 59,91,13,022 equity shares with face value of ₹1 each, a total face value of ₹59,91,13,022.

Published on October 22, 2021

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