Indian Energy Exchange, incorporated in the year 2007, is a Mid Cap company with a market cap of Rs 10704.65 Crore operating in Financial Services sector.
Indian Energy Exchange key Products/Revenue Segments include Sale of services and Other Operating Revenue for the year ending 31-Mar-2020.
Investment rationale
According to the ICICI Direct report, share price of Indian Energy Exchange is in strong up trend forming higher peak and higher trough in all time frame. The stock has resumed fresh up move after a two weeks breather as it rebounded from the 61.8 per cent retracement of the previous up move (294-355) signalling positive bias and offers fresh entry opportunity. The report added, the daily 14 periods RSI has rebounded from its previous lows and is at the cusp of generating a bullish crossover above its nine periods average thus validates positive bias.
Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 96.09 Crore, up 22.09 per cent from last quarter Total Income of Rs 78.71 Crore and up 38.42 per cent from last year same quarter Total Income of Rs 69.42 Crore. Company has reported net profit after tax of Rs 58.14 Crore in latest quarter.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of Dec 30, 2020, while FIIs held 30 per cent, DIIs 36.6 per cent and public and others 33.4 per cent.
