Indian Energy Exchange jumps on bullish analyst commentary
BUZZ-Indian Energy Exchange jumps on bullish analyst commentary ** Indian Energy Exchange IIAN.NS shares up 2.2% at 127 rupees
** Axis Capital hikes rating to "Add" from "Sell", PT to 135 rupees from 107 rupees, citing faster growth of the real-time electricity market reducing exposure to market coupling
** Notes potential new revenue streams from a coal exchange, a proposed mineral exchange, carbon trading and Indian Gas Exchange, or IGX
** IIFL Capital ("Add", PT: 140 rupees) citing stronger customer ties from bidding/post-trade digital and forecasting tools
** Expects double-digit volume growth, aided by renewables, battery storage and expanded surplus-power sales
** Stock rated "hold" on average by 11 analysts; median PT at 135 rupees - LSEG-compiled data
** YTD, stock down 5.6%
(Reporting by Mridula Kumar in Bengaluru)
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