zoomed 7 per cent to hit a 52-week high on Monday. The share price movement follows SEBI’s approval to the commodity exchange on Friday
According to the statement, the electricity derivatives contracts to be introduced by MCX will help power distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively.
Praveena Rai, MD & CEO of MCX, said, “These contracts will offer participants a reliable, transparent, and regulated platform to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms.”
The stock traded 7.13 per cent higher on the at ₹7,949 as at 1.48 pm, hitting an intraday high of ₹7,970 (also its 52-week high) from the previous close of ₹7,419.65.