The announcement was made after trading hours on Friday, 18 November 2022.

On the technical front, the stock's daily RSI (relative strength index) stood at 53.435. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock is trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 145.14, 153.69 and 181.39, respectively.

On a year-to-date (YTD) basis, the stock has declined by 42.50% while the benchmark Sensex has gained 5.07% during the same period.

Indian Energy Exchange (IEX) is India's premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

The company's consolidated net profit declined 8.4% to Rs 71.20 crore on 13.8% decrease in net sales to Rs 95.20 crore in Q2 FY23 over Q2 FY22.