On June 6, Indian Energy Exchange (IEX) shares tumbled 2% as pricing during May 2023 sank 30% YoY. Besides, overall weakness in the market also impacted the selling pressure.

At 9:49 am, the company’s shares traded at Rs 151.15, down 1.3% on the BSE, and benchmark indices were flat.

The scrip fell 5% in the past month, tanking 14% in the past year.

The price in May 2023 was Rs 4.74 per unit, falling 30% YoY from Rs 6.76 per unit in May 2022, amid an improving supply-side scenario leading to improved liquidity and cooler weather conditions.

As the power demand expects to rise in the upcoming months, the accessibility of power supply is also predictable to improve. This improvement is due to augmented coal supply, lesser prices in e-auction coal, and the lessening costs of imported coal and gas. These factors will impact competitive prices, easing power distribution companies (Discoms). This would generate access to consumers for acquiring the power needed, the company said in an exchange filing.

However, the overall monthly volume was higher by 8% YoY.