IEX stock in focus after its trading volume rises by 18% YoY

Synopsis: The shares of this energy exchange were in the news today after it announced its November month’s performance highlights, which indicated growth in major segments. Let us see how IEX has performed.

The shares of this company, which provides an automated platform and infrastructure for carrying out trading in electricity units for physical delivery of electricity, were in focus today after publishing the power market update, which highlights growth in several segments.

With a market cap of Rs 13,277 crore, the shares of Indian Energy Exchange Ltd reached a high of Rs 151.75 compared to its previous day’s closing price of Rs 148.85, giving a jump of about 2% in today’s trading session. The shares have given a return of 106% over the last 5 years and are trading at a PE of 29.3, whereas their industry PE is 62.3. 

IEX November performance highlights. 

Indian Energy Exchange (IEX) saw a strong performance in November 2025, with electricity volumes climbing to 11,409 MU, up 17.7% YoY. The exchange also facilitated the trade of 4.74 lakh Renewable Energy Certificates, even as overall national energy consumption dipped slightly to 123.4 BUs, about 1% lower than last year.

Thanks to better hydro, wind and solar availability, the market saw softer prices, with the Day-Ahead Market averaging Rs 3.07/unit, a 6.9% YoY drop, and the Real-Time Market averaging Rs 3.14/unit, which is down by 9.2% YoY. These lower rates gave both discoms and industrial buyers a good opportunity to meet their energy needs at more competitive prices.

Within individual segments, activity picked up noticeably. The DAM held steady with 5,668 MU, just above last year’s 5,651 MU, while the RTM delivered a sharp jump to 4,233 MU from 3,019 MU, marking a strong 40.2% increase. But the biggest surge came from the Term-Ahead Market, which touched 693 MU compared to 202 MU a year ago which is an impressive 243.1% rise. In the green energy markets, IEX traded 815 MU versus 818 MU last year, a small 0.3% dip, with the G-DAM price settling at Rs 3.29/unit.

The REC (Renewable Energy Certificate) market saw slightly softer traction, with 4.74 lakh certificates exchanged during the two November sessions held on the 12th and 26th, clearing at Rs 370 and Rs 364 per certificate. This translated into a 13.1% YoY decline in volumes.

Even with this moderation, IEX continues to be a central pillar of India’s power ecosystem, offering transparent, efficient and nationwide trading across electricity, green products and certificates. Its ISO-certified systems and long-standing regulatory approval reinforce its role in supporting cleaner energy integration and smoother power-market operations across the country. 

Financials and others. 

The revenue from operations is at Rs 154 crore in Q2 FY26 versus Rs 139 crore in Q2 FY25, which is an increase of about 11 per cent YoY. Similarly, the net profit has increased by about 14% when we compare the Q2 FY25 profit of Rs 108 crore with the Q2 FY26 profit of Rs 123 crore. 

IEX’s ecosystem is built on a wide and diverse community of participants, which is what gives the platform its strength and liquidity. With 8,500-plus registered members, the exchange brings together 5,700-plus commercial and industrial consumers, 2,500-plus  renewable energy generators and obligated entities, and 1,100-plus conventional power generators, creating a balanced mix across the energy landscape. It also works closely with 75-plus DISCOMs and 200-plus ESCert entities and even supports 20-plus cross-border portfolios, showing how far its network extends. This deep participation has helped IEX maintain a strong growth trajectory, reflected in its 30% volume CAGR since 2008, and reinforces its role as a trusted, central marketplace for India’s electricity sector.

IEX is India’s leading energy exchange, offering a digital platform where buyers and sellers can trade electricity, renewable energy, and various certificates with speed and transparency. Its system helps the market discover fair prices and makes power procurement more accessible and efficient for participants across the country.

The company’s strong focus on reliability is reflected in its ISO certifications for quality, information security and environmental management. Listed on both the NSE and BSE and regulated by the Central Electricity Regulatory Commission, IEX has built a reputation as a trusted, well-governed player at the core of India’s modern, growing energy ecosystem.

Written by Leon Mendonca.

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