IEX‘s share price jumped 3% on Wednesday morning to hit a new 52-week high of ₹191.20.
What Happened: The surge today came as the company posted its business update for the month of June. IEX reported an electricity volume of 10,185 million units for the month of June, a 24.7% year-on-year increase.
Including certificates, the exchange’s total monthly volume rose to 10,677 million units, marking a 19.4% year-on-year growth.
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In the first quarter of fiscal year 2025, IEX clocked an electricity volume of 28,178 million units, a 19% year-on-year rise. The total volume for the quarter, including certificates, reached 30,354 million units, up 20.8% from a year ago.
During this period, the country’s peak electricity demand hit 250 gigawatts, exceeding the previous high of 243 gigawatts recorded in September last year.
Backed by the update, the stock saw a surge as soon as the market opened on Wednesday. However, it has since then moderated.
Price Action: IEX’s share price was up 0.66% to trade at ₹186.30 in early trade on Wednesday.
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