IEX climbs over 9% on buyback proposal

Shares of Indian Energy Exchange surged over 9 per cent as the board will meet next week to consider a proposal to buy back the company’s equity shares.

After opening on a positive note on the BSE, the scrip further advanced 9.16 per cent to an intraday high of Rs 171. On the NSE, the stock jumped 5.03 per cent to touch an intraday high of Rs 164.8.

“The meeting of board of directors of the company will be held on, Thursday, December 20, 2018 at New Delhi, inter alia to consider the proposal for buyback of the fully paid-up equity shares of the company,” IEX said in a regulatory filing.

 

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