IEX share price jumps over 5% on strong Q4 results; here's what analysts say

Indian Energy Exchange (IEX) share price rose by 5.5% during Friday's trading session following the exchange's announcement on Thursday of a more than 21% increase in consolidated net profit, reaching ₹117.11 crore in the March quarter of FY25 compared to the previous year, largely driven by increased revenues.

A regulatory filing indicated that the company reported a consolidated net profit of ₹96.68 crore for the quarter ending March 31, 2024.

In the reported quarter, total income increased to ₹174.59 crore, up from ₹149.28 crore in the same quarter last year. For the fiscal year 2024-25, the company's consolidated net profit rose to ₹429.16 crore, compared to ₹350.78 crore in the previous financial year.

Total income for the fiscal year climbed to ₹657.36 crore, up from ₹550.84 crore in 2023-24.

The board of directors has proposed a final dividend of ₹1.50 per equity share with a face value of Re one each for the financial year ending March 2025.

The board has set May 16, 2025, as the 'record date' to determine the eligibility of shareholders for the final dividend payment, as stated.

As per a statement from the company, IEX achieved its highest quarterly electricity trading volume to date, totaling 31.7 billion units (BU) in Q4 FY25, representing an 18.1 percent increase compared to the same quarter last year.

IEX share price today

IEX share price today opened at ₹194.60 apiece on the BSE, the stock touched an intraday high of ₹201.25 per share, and an intraday low of ₹194.35 per share. Anshul Jain, Head of Research at Lakshmishree Investments explained that IEX share price has broken out of a 90-day-long rectangle pattern marked by multiple failed lows, signaling strength.

Today’s breakout came with rising volumes, though institutional participation during the entire base was limited. For a convincing breakout, volumes should be at least 5x the 50-day average. A sustained move above the ₹191 level will confirm the breakout and likely trigger momentum towards ₹210 and eventually ₹242, offering strong risk-reward for positional traders.

Further, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, added that IEX share price has seen a gap up opening and follow up buying is witnessed with prices trading with gain more than 4%, The bullish gap left around ₹190 is likely to act as support whereas the prices can extend upmove towards ₹213 levels in near term.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.