Latest news with #IEX
Yahoo
5 days ago
- Business
- Yahoo
Mizuho Securities Hikes Intuit Price Target to $875 on Positive QuickBooks Outlook
Intuit Inc. (NASDAQ:INTU) is . That was evident on June 9 as Mizuho Securities increased the stock's price target to $875 from $825. In addition, it reaffirmed its 'Outperform' rating. A business executive analyzing their latest financial performance figures, thanks to the company's online cash management services. The price target adjustment follows an analysis of the company's QuickBooks business after a robust TurboTax season. Siti Panigrahi and analysts at the research firm expect Intuit's online ecosystem revenue to grow at a compound annual growth rate of 22% between 2026 and 2028, beating consensus estimates of 18%. The expected growth should be accelerated by increased traction in the mid-market segment through products like QBO Advanced and IEX. Additionally, Intuit is expected to benefit from the broader adoption driven by portfolio expansion. Integration of artificial intelligence agents in QuickBooks is also likely to accelerate upgrades. Panigrahi expects Intuit's stock valuation to receive a significant boost given the anticipated growth complimented by double-digit growth in the Consumer segment. The company's solid performance in fiscal 2025, ongoing margin expansion, and increased monetization of AI technologies are also expected to bolster the stock's sentiments. Intuit Inc. (NASDAQ:INTU) is a technology company that provides financial management, compliance, and marketing products and services. It provides QuickBooks services, including online financial and business management, desktop software, bill pay solutions, checking accounts, and financing services. While we acknowledge the potential of INTU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Mint
12-06-2025
- Business
- Mint
Dalmia Cement books profit in IEX. Full details here
Dalmia Cement (Bharat) Limited has sold 2.18 crore equity shares (2,17,59,948 shares) of Indian Energy Exchange Limited (IEX), which represents 2.44% of IEX's total equity, via open market transactions. The sales took place between June 3, 2025, and June 10, 2025, decreasing Dalmia Cement's stake in the energy exchange platform to 10.81%. The announcement regarding this transaction was made to the stock exchanges on June 11, 2025, in adherence to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Before this series of sell-offs, Dalmia Cement (Bharat) Limited owned a substantial stake of 11,81,26,656 equity shares in IEX. After selling 2,17,59,948 shares, Dalmia Cement's stake in IEX has decreased to 9,63,66,708 equity shares. The regulatory announcement also names DPVL Ventures LLP and Dalmia Power Limited as Persons Acting in Concert (PACs) alongside the seller, Dalmia Cement (Bharat) Limited.
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Business Standard
11-06-2025
- Business
- Business Standard
IEX shares crash 10% on market coupling buzz; what should investors do?
IEX share price today: Indian Energy Exchange (IEX) witnessed a sudden decline in its share price on Wednesday, June 11, 2025. IEX shares tumbled 10.2 per cent today, hitting an intraday low of ₹188.5 per share on the BSE amid heavy volumes. The sudden decline in IEX share price came amid a report that Power Minister Manohar Lal could apprise all the relevant stakeholders on market coupling and its associated benefits. A report by TV channel CNBC TV18 said that market coupling would happen through a broad bid, and not any internal bid. Business Standard could not independently verify the report. At 3:05 PM, IEX stock was trading 7.8 per cent lower at ₹193.2 per share, weighed by 3.17 million volumes on the BSE. By comparison, around 1.5 million shares, on average, changed hands on the counter over the past two weeks. Combined with the volumes on the National Stock Exchange (NSE), around 69.21 million shares have changed hands on both the exchanges so far in trade. In the derivatives market, put options for IEX scrip jumped three-fold the average. This was the stock's biggest one-day decline in 15 weeks. What is market coupling? Market coupling is a process through which buy and sell bids from all the three power exchanges -- IEX, Power Exchange India Limited (PXIL), and Hindustan Power Exchange Limited (HPX) -- will be aggregated to arrive at a single market clearing price (MCP). At present, each power exchange collects their own buy and sell bids to arrive at a MCP of its own. This leads to variation in the price of electricity on each exchange. Market coupling process, in the electricity markets, aims to unify power trading platforms to ensure efficiency, transparency, and price discovery across interconnected markets. At present, India is exploring market coupling through a central entity, likely Grid-India, to unify price discovery for the Day-Ahead Market (DAM) and other segments. How will market coupling affect IEX? While market coupling is beneficial from consumer point of view as it will encourage more competition and transparency in the electricity prices, while improving liquidity across exchanges to reduce price volatility. Investors, typically, sell IEX shares due to market coupling fears as the exchange has a dominant market share of around 90 per cent in the electricity market. A level playing field across exchanges would threaten the influence it has in the price discovery mechanism. That apart, any shift in volumes or trade preference from IEX to other power exchanges could adversely affect IEX's revenue due to lower fee income. IEX share price history Over the past one month, IEX share price has surged around 11 per cent on the BSE as against a 4 per cent rise in the benchmark Sensex index. From its 52-week low level of ₹151 per share, the stock is up 39 per cent. IEX stock analysis: should you buy or sell IEX shares? According to analysts at Reliance Securities, the recent uptrend in IEX stock had helped it breach the previous resistance line on the daily chart. The stock's 10-day moving average line is well above the 21-day moving average line, indicating a bullish trend. Further, the Relative Strength Index (RSI) is showing a strong upward movement, reaching 73.18. The level is still below the 'overbought' threshold of 80. "Investors may consider taking an entry position at the current market price (CMP), as the stock could provide an opportunity for further upside movement. The Risk to Reward Ratio is favorable at 1: 1.60," the brokerage said in a note on Wednesday. The brokerage suggests investors buy IEX stock at current levels with a stop loss of ₹186. Their two-month share price target on the stock is ₹224, followed by ₹251. Fundamentally, JM Financial Institutional Equities has initiated coverage on IEX stock with a 'Buy' rating and a share price target of ₹231 as it believes the risk-reward is not in the favour the regulators who wish to implement market coupling (MC) to centralise scheduling and dispatch of power and reduce costs. Meanwhile, demand for power, both energy and peak power, in India has grown at an unprecedented rate of 8.5 per cent during FY21-24 vs the historical average of 4.5-5.5 per cent. It is projected to grow at a CAGR of more than 6 per cent during FY24-32. Further, the share of renewables (solar, wind) in total generation has increased from 10 per cent in FY20 to 14 per cent in FY25, and it is likely to increase to 24 per cent/35 per cent by FY27/FY32. IEX's revenue, meanwhile, grew from ₹198.6 crore in FY17 to ₹537.3 crore in FY25, registering a CAGR of 13 per cent, broadly in line with the growth in the power exchange market, which expanded at a CAGR of 15 per cent from FY17-FY24. During the same period, the company's Ebitda increased from ₹143.5 crore in FY17 to ₹453.7 crore in FY25, with Ebitda margin improving from 72 per cent to 84 per cent. "With rising power demand and an increasing share of exchange-based transactions in the total electricity market, we expect the volume traded through the exchange to grow at a CAGR of 13 per cent during FY25-28. This is estimated to drive growth in revenue, and PAT at CAGRs of 16 per cent and 14 per cent, respectively, over the same period," JM Financial said.
Business Upturn
11-06-2025
- Business
- Business Upturn
IEX shares fall nearly 10% as reports suggest Power Minister to consider consultation on market coupling
Shares of Indian Energy Exchange (IEX) fell sharply on Tuesday, plunging 9.74% to Rs 189.56 on the NSE following news that the Power Ministry will begin stakeholder consultations on market coupling — a structural change that could reshape power trading in India. The stock witnessed a steep intraday fall from above Rs 210 to below Rs 197 after CNBC-TV18 reported that the Power Minister would apprise stakeholders about the benefits of market coupling. Government sources confirmed that the process would be carried out via a broad bid rather than an internal mechanism, a move seen as potentially dilutive to IEX's standalone market power. The development revives market concerns from earlier this year, when the Power Secretary indicated that both the Ministry and the Central Electricity Regulatory Commission (CERC) were reviewing a Grid Controller report on market coupling. Market coupling refers to integrating multiple electricity exchanges to determine a single uniform market clearing price. Analysts believe such a shift may weaken IEX's pricing independence and could trigger structural changes in its current business model. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Business Standard
10-06-2025
- Business
- Business Standard
BSE, MCX, IEX: Which exchange stock is worth your portfolio?
BSE and MCX share prices trade at all-time high levels. Technical chart suggests a likely positive bias for MCX and IEX stocks, while BSE may witness high volatility in the near-term. Rex Cano Mumbai Listen to This Article Shares of exchanges - the Bombay Stock Exchange (BSE) and the Multi Commodity Exchange (MCX) of India in particular are seen trading at life-time highs in recent days on the back of a strong rally at these counters. BSE share price has appreciated over 28 per cent in the last 13 trading sessions, after the stock turned ex-bonus in the 2:1 ratio. The stock has been a major outperformer so far in the calendar year 2025, having zoomed over 71 per cent. In comparison, the National Stock Exchange (NSE) Nifty 50 index has advanced 6 per cent
