Reduce Indian Energy Exchange, target price Rs 127: Nuvama Wealth brokerage

Nuvama Wealth brokerage has reduced its call on Indian Energy Exchange to a target price of Rs 127, a decrease from the current market price of Rs 124. The analyst predicts it will take one year for Indian Energy Exchange’s price to reach the target. IEX is the most reliable platform for electricity spot price determination in India, but the introduction of a full-fledged market coupler could threaten its position, leaving the potential for other exchanges to eat into its market share. FIIs own 17.88% and DIIs own 21.53% of the company.