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India - Politics, Industrials, IT and Large Caps, EMAlpha

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India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

Indian Energy Exchange Ltd / Equity Bottom-Up

<p>Despite huge volatility in Indian markets in the recent weeks, the stock of <a href="https://www.smartkarma.com/entities/25946" target="_blank" data-smartkarma-citation="entities:25946:1">Indian Energy Exchange (IEX IN)</a> has performed much better. The primary reason is that revenue and profitability for company is linked to trading volumes of spot electricity at IEX which have been good in recent months especially in September. As such the trading volumes went up 17% yoy in 2Q FY19 and as long as they remain robust, the stock is likely to do well. However, investors also need to keep in mind that the linkage between revenue and volumes for <a href="https://www.smartkarma.com/entities/25946" target="_blank" data-smartkarma-citation="entities:25946:1">Indian Energy Exchange (IEX IN)</a> is less than perfect and profitability also gets impacted because of some higher costs such as employee expense and investment in technology in some quarters.</p>

Despite huge volatility in Indian markets in the recent weeks, the stock of Indian Energy Exchange (IEX IN) has performed much better. The primary reason is that revenue and profitability for company is linked to trading volumes of spot electricity at IEX which have been good in recent months especially in September. As such the trading volumes went up 17% yoy in 2Q FY19 and as long as they remain robust, the stock is likely to do well. However, investors also need to keep in mind that the linkage between revenue and volumes for Indian Energy Exchange (IEX IN) is less than perfect and profitability also gets impacted because of some higher costs such as employee expense and investment in technology in some quarters.

インドエネルギー取引所（IEX IN）：株価の堅調さには理由があるが、どの程度で十分なのか？