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Axis Securities Report
Indian Energy Exchange Ltd. is the premier electricity exchange in India, which facilitates electricity trade.
The company commands a market share of ~95% in the power exchange market.
The company has a debt free balance sheet with cash and investments to the tune of ~ Rs 700 crore.
With the Supreme Court disposing of a spat between Central Electricity Regulatory Commission and Securities and Exchange Board of India, electricity can now be traded as other commodities with forward contracts and derivatives on exchanges.
This settlement will open the gates for introduction of longer duration delivery bases contracts in power exchanges and IEX will be a beneficiary.
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