Indian Energy Exchange (IEX), the largest electricity trading platform in India is in the news. There is news that the company talking to some ‘strategic investors’ to sell its minority stake, as much as 49% in its gas unit.
There was news in June that GAIL was looking at buying a stake and this could work out for IEX too as it was looking at partnerships to expand the market reach.
The news is that first such signing on of an investor could happen within the next three months.
The stock price spurted up briefly from its closing yesterday at Rs.182.75 to Rs.184.20 and is now trading at Rs.183 levels. Its 52-week high is at Rs.203.40.