Toh bhaiyo, IEX ka scene thoda complex ho gaya hai. Ek taraf toh company ne FY26 mein electricity trading mein 141 billion units ka record volume nikala hai, jo pichhle saal se 17% zyada hai. Ismein Real-Time Market (RTM) aur Green Market jaise segments ne kamaal kiya hai.
RTM mein toh 41% ki tezi aayi hai aur Green Market bhi 23% badha hai. Renewable Energy Certificates (RECs) bhi 5% upar gaye hain.
Lekin asli panga ye hai ki itna volume hone ke bawajood, electricity ke prices dhakke kha rahe hain. Pichhle saal 55 GW ki nayi power capacity add ho gayi aur demand sirf 1.1% badhi. Isse market mein supply zyaada ho gayi aur prices gir gaye.
Day-Ahead Market (DAM) ke prices 13.7% girkar ₹3.86 ho gaye aur RTM prices 16% down hokar ₹3.59 par aa gaye.
Is situation ka asar seedha stock par dikh raha hai. IEX ka share price apne 52-week high ₹215.40 se lagbhag 50% gir chuka hai aur ab ₹119.42 ke aas paas trade ho raha hai. Aaj bhi 0.44% ki girawat dekhne ko mili.
Wahi IEX market mein 90% se zyada share hold karta hai, jiska market cap ₹10,642 crore ke aas paas hai. Iska P/E ratio ab 21.7x-26.3x chal raha hai, jo iske historical average se kaafi kam hai.
Investors thode worried hain kyunki kam prices se company ke profits par pressure aa sakta hai aur regulatory changes bhi ek risk hain. Phir bhi, analysts mostly 'Moderate Buy' ka rating de rahe hain, expecting ki future mein demand badhegi.