Multi-Commodity Exchange of India Ltd (MCX), India's largest Exchange in the commodity derivatives segment and Indian Energy Exchange Ltd. (IEX), India's first and largest Energy spot exchange have entered into a licensing agreement to launch Electricity derivatives linked to IEX spot electricity prices on MCX trading platform, subject to necessary approvals from the government of India and the concerned regulators. This shall lay the groundwork for a vibrant electricity derivatives market in the country.
The launch of electricity derivatives shall provide an effective risk management avenue and help the value chain participants to hedge price risks and protect their revenue margins. With this India shall also join a select group of developed countries which offer electricity derivatives on an exchange platform.
Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.1681 as compared to the previous close of Rs. 1766.1. The total number of shares traded during the day was 278997 in over 2982 trades.
The stock hit an intraday high of Rs. 1760 and intraday low of 1665.05. The net turnover during the day was Rs. 489895362.