IEX Shares Gains The Most In About Nine Months
The board of IEX will meet on Nov. 25 to consider buyback of shares.
Shares of Indian Energy Exchange Ltd. gained the most since Feb. 25 on a proposal to consider a buyback of shares.
The board will meet on Nov. 25 to consider a proposal for buyback of fully paid-up equity shares of the company, it said in its exchange filing.
The stock gained 4.33% to Rs 144.45 as of 11 a.m., while the Nifty 50 eased 0.77% on the NSE. The total traded volume is 8.4 times the 30-day average.
Of the 15 analysts tracking the company, four maintain a 'buy', five suggest a 'hold' and six recommend a 'sell', according to Bloomberg data. The 12-month consensus price target implies an upside of 2.4%.