PTC picks up 26% in Indian Energy Exchange
PTC picks up 26% in Indian Energy Exchange Power trading firm PTC India (Q, N,C,F)* has picked up 26% stake in Indian Energy Exchange (IEX), India`s first national power exchange. IEX, promoted by Financial Technologies, will be a pan- India neutral and transparent electronic demutualized exchange for efficient price discovery in the electricity market. PTC India CMD Tantra Narayan Thakur said the “Indian Power market still possesses a huge under-utilized captive capacity and massive growth potential which, if utilized, can go a long way in bridging the existing demand - supply gap. All these factors have contributed in creating a nation-wide consensus and favorable government directives towards need for development and reforms in the power sector.“ Shares of the PTC closed up Rs 0.65, or 0.78%, at Rs 84.30. The total volume of shares traded at the BSE was 715,243. (Thursday)
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Other corporates who have consented to take a stake are Tata Power (TPC), Reliance Energy (RE L) Rural Electrification Corporation (REC), Adani Enterprises (AEL) and IDFC in the consortium
