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Indian Energy Exchange (IEX) share price rose nearly 4 per cent intraday on March 10 after the company divested its holding in Indian Gas Exchange (IGX). “Announced strategic divestment of 26 per cent of its equity holding in the Indian Gas Exchange to National Stock Exchange of India Limited (NSE) through its wholly-owned subsidiary, NSE Investments Ltd, and additional 5 per cent equity holding to Oil and Natural Gas Corporation,” as per the press release.
“Having NSE and ONGC as our partners is a natural choice for us in our endeavor to deepen India’s gas markets. We are enthused and delighted about the new partnerships. Both NSE and ONGC bring their unique value proposition and leading-edge in markets and hydrocarbon sector respectively to the table,” said S N Goel, Chairman, and Managing Director, IEX and Director, IGX.
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“We look forward to working jointly with our new partners in developing gas markets which offer an immense scope of growth,” he added. Earlier this year, IEX announced the strategic investments of 5 per cent each by leading players in the gas value chain Adani Total Gas, Torrent Gas, and GAIL India Ltd in IGX. At 13:26 hrs Indian Energy Exchange was quoting at Rs 311.15, up to Rs 9.90, or 3.29 per cent on the BSE. The share touched a 52-week high of Rs 322.85 and a 52-week low of Rs 111.05 on 11 February 2021 and 23 March 2020, respectively. Currently, it is trading 3.62 per cent below its 52-week high and 180.19 per cent above its 52-week low.
