IEX shares in focus as trade volume surges 18% to 11,409 million units in November

In a regulatory filing dated December 3, IEX posted a 17.7% surge in its trade volume at 11,409 million units in November compared to the corresponding month of the previous year.

A total of 4.74 lakh Renewable Energy Certificates were traded during the month, it stated.

It said that enhanced hydro, wind, and solar generation resulted in higher supply liquidity on the exchange platform, leading to a decline in DAM (day-ahead market) and RTM (real-time market) prices.

The market-clearing price in DAM stood at ₹3.07/unit during November, marking a 6.9% YoY decline. The price in the RTM was at ₹3.14/unit during the month, registering a fall of 9.2% YoY.

These prices presented an opportunity for discoms and Commercial & Industrial consumers to meet their demand at a competitive price and to replace their costlier power by procuring through exchanges, IEX added.

The DAM achieved 5,668 million units (MU) volume in November, as against 5,651 MU in the year-ago period. The RTM volume increased to 4,233 MU from 3,019 MU in November 2024, registering an increase of 40.2% annually.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising HPTAM, contingency, daily & weekly and monthly contracts up to 3 months, traded 693 MU last month as compared to 202 MU in November 2024.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 815 MU volume during November 2025 as compared to 818 MU a year ago.

The weighted average price in the Green Day-Ahead Market (G-DAM) for the month was ₹3.29/ unit.

A total of 4.74 lakh RECs were traded in the trading sessions held on November 12 and November 26, at a clearing price of Rs370/REC and Rs 364/REC, respectively. REC traded volume in November 2025 decreased by 13.1% on a YoY basis.

The stock closed 0.24% higher at ₹148.90 per equity share on the National Stock Exchange (NSE) on Wednesday. However, the numbers were reported after the market closed.

The scrip has advanced over 5% in the past week and more than 6% over the month. On a year-to-date basis, however, it has lost over 17%.

IEX has a total market capitalisation of ₹13,277.30 crore, as of December 3, 2025, according to data on the NSE.