Indian Energy Exchange Ltd - Fundamentals & Technicals
INDIAN ENERGY EXCHANGE LIMITED (IEX) is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Saving Certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.
Let’s look at some facts and figure of the company:
Fundamentals:
> It is a small cap company with a market cap of Rs. 10,786 Cr.
> The company have ROCE - 60.4% and ROE - 46.7% which is very impressive.
> Stock P/E is at 50.5 which makes the valuation a little costlier.
> The company has grown on an average rate of 16% over last 10 years.
> It is almost a debt free company that is great about it.
> Topline and bottomline both very impressive.
> FIIs and DIIs have good among of holding in the company and they have also increased their stake on year on year basis.
Technicals:
> Stock looking very good on chart, major long term trend is in uptrend.
> Trading above 100 and 200 DMAs.
> Stock is retracing a little in short term which is expected as it has given huge runup continuously since Jan 21.
> It is clear from volume at the bottom that lot of accumulation is going on in the company.
Considering all the points mentioned above it is clear that this is a fundamentally very strong company with good technicals.
Fresh Buy - As the stock is retracing in short term, wait for sometime, let it come down, take the support, buy on trend reversal (when comes in uptrend again) which is expected to happen in the zone of Rs.335–340.
Old Buy - HOLD
Let’s look at some facts and figure of the company:
Fundamentals:
> It is a small cap company with a market cap of Rs. 10,786 Cr.
> The company have ROCE - 60.4% and ROE - 46.7% which is very impressive.
> Stock P/E is at 50.5 which makes the valuation a little costlier.
> The company has grown on an average rate of 16% over last 10 years.
> It is almost a debt free company that is great about it.
> Topline and bottomline both very impressive.
> FIIs and DIIs have good among of holding in the company and they have also increased their stake on year on year basis.
Technicals:
> Stock looking very good on chart, major long term trend is in uptrend.
> Trading above 100 and 200 DMAs.
> Stock is retracing a little in short term which is expected as it has given huge runup continuously since Jan 21.
> It is clear from volume at the bottom that lot of accumulation is going on in the company.
Considering all the points mentioned above it is clear that this is a fundamentally very strong company with good technicals.
Fresh Buy - As the stock is retracing in short term, wait for sometime, let it come down, take the support, buy on trend reversal (when comes in uptrend again) which is expected to happen in the zone of Rs.335–340.
Old Buy - HOLD
Trade active:
Can be entered at CMP.