Indian Energy Exchange shares surge over 9 pct as board to consider share buyback proposal

Shares of Indian Energy Exchange Friday surged over 9 per cent after the company said its board will meet next week to consider the proposal to buy back the firm's equity shares.

After opening on a positive note on the BSE, the scrip further advanced 9.16 per cent to Rs 171, highest during the day trade. At 1258 hrs, the scrip was trading 4.31 per cent higher at Rs 163.40.

On the NSE, the share gained 5.03 per cent to touch the intra-day high of Rs 164.8.

"The meeting of board of directors of the company will be held on, Thursday, December 20, 2018 at New Delhi, inter alia to consider the proposal for buyback of the fully paid-up equity shares of the company", the company said in a regulatory filing Thursday.