The shares of Indian Energy Exchange (IEX) Ltd recorded fresh highs on Friday after the company entered into a strategic partnership with the National Stock Exchange of India Limited (NSE) and Oil and Natural Gas Corporation Limited (ONGC) to build gas markets.
IEX closed at ₹328.40 on the BSE, up ₹19.90 or 6.45 per cent. It hit a 52-week high of ₹349.00. It opened at ₹309.25 as against the previous close of ₹308.50.
On the NSE, it closed at ₹327.75, up ₹19.80 or 6.43 per cent. It hit a 52-week high of ₹349.00.
IEX, India’s premier Energy Exchange, on March 10 announced a strategic divestment of 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to NSE through its wholly owned subsidiary NSE Investments Ltd and an additional 5 per cent equity holding to ONGC, a Maharatna Central Public Sector Undertaking.
IGX became India’s first gas exchange after it secured authorisation from the Petroleum and Natural Gas Regulatory Board last December 2.
SN Goel, Chairman, IEX, and Director, IGX said having NSE and ONGC as partners is a natural choice in the endeavour to deepen India’s gas markets.
Vikram Limaye, Managing Director, NSE, said, “The government has a non-wavering commitment to increase the consumption of gas and build India as a gas-based economy. The collaboration to strengthen IGX will go a long way in accelerating the development of the gas markets.”
IGX will provide a vibrant gas market platform for accelerating gas consumption in the country, thereby helping towards achieving the national sustainable energy aspiration, he said.
ONGC closed at ₹115.35 on the BSE, up ₹0.90 or 0.79 per cent. Ithit an intraday high of ₹117.35 and an intraday low of ₹115.30. It opened at ₹115.50 as against the previous close of ₹114.45.