ICICI Direct has given Buy recommendation for Indian Energy Exchange recommended buy rating on the stock with a target price of Rs 305 in its research repo with a target price of Rs. 305 in its research report issued on Dec 03, 2021

ICICI Direct’s research report on Indian Energy Exchange

Indian Energy Exchange (INDEN) made an announcement on bonus shares on October 21, 2021. The ratio was two bonus share for every one equity shares, 2:1. The record date for the same is December 6, 2021 while the exdate for the same is today, December 3, 2021. Consequently, Indian Energy Exchange’s share price, as per yesterday’s closing price, has adjusted to Rs 249/share from Rs 747/share.

Outlook

Accordingly, our target price stands revised to Rs 305/share. We maintain our BUY recommendation on the stock.

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