Dalmia Cement books profit in IEX. Full details here

Dalmia Cement (Bharat) Limited has sold 2.18 crore equity shares (2,17,59,948 shares) of Indian Energy Exchange Limited (IEX), which represents 2.44% of IEX's total equity, via open market transactions.

The sales took place between June 3, 2025, and June 10, 2025, decreasing Dalmia Cement's stake in the energy exchange platform to 10.81%. The announcement regarding this transaction was made to the stock exchanges on June 11, 2025, in adherence to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Before this series of sell-offs, Dalmia Cement (Bharat) Limited owned a substantial stake of 11,81,26,656 equity shares in IEX. After selling 2,17,59,948 shares, Dalmia Cement's stake in IEX has decreased to 9,63,66,708 equity shares.

The regulatory announcement also names DPVL Ventures LLP and Dalmia Power Limited as Persons Acting in Concert (PACs) alongside the seller, Dalmia Cement (Bharat) Limited.

Dalmia Cement, a key player in the Dalmia Bharat Group, holds a prominent position in the industrial sector of India. While it is predominantly recognized for its cement manufacturing operations, the company has also ventured into sugar, refractories, and power, as indicated in its official communications.

IEX serves as the foremost energy exchange in India, providing a national automated platform for trading electricity, renewable energy certificates (RECs), and energy-saving certificates (ESCerts).

Technical Views

Shares of Dalmia Bharat opened at an intraday high of ₹2,160 apiece on the BSE, the stock touched an intraday low of 2,121.90 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Dalmia Bharat stock is in a strong uptrend moving in a Higher Top Higher Bottom formation, last couple of sessions however have been in profit booking.

“One should however maintain the positive bias as any dip is getting bought into at 20DEMA, Immediate resistance is at ₹2,200 and immediate support is at ₹2,050,” said Bhosale.

According to Anshul Jain, Head of Research at Lakshmishree Investments, IEX share price broke out of a 103-day cup and handle pattern at ₹190, rallied to ₹212, and is now undergoing a pullback to retest the neckline zone of ₹190–192. A bullish follow-through from this zone can lead the stock towards the weekly swing high of ₹229. However, a decisive breach below ₹185 will negate the bullish structure and signal potential trend reversal. Traders should monitor price action around current support levels.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.