Capital Markets
Indian Energy Exchange Ltd (IEX) October’26: Electricity Traded Volume Up 16.5% YOY
Indian Energy Exchange Ltd (IEX) sees a 16.5% YOY rise in October 2026 electricity traded volume; market clearing prices surge.
Indian Energy Exchange (IEX), India’s premier electricity exchange, recorded a monthly electricity traded volume of 13,092 MUs in October 2026, marking a 16.5% year-on-year increase. According to government data, India’s energy consumption reached 159.8 BUs in October 2026, registering a 21.9% year-on-year growth. This rise in power demand drove buy bids in the Day-Ahead Market up 265% year-on-year, resulting in an increase in prices.
Market Clearing Prices Surge
The average market clearing price in the Day-Ahead Market registered a 149% increase year-on-year, rising from Rs 2.67/unit in October 2025 to Rs 6.66/unit in October 2026. The sharp increase was also attributable to the low base of the corresponding month last year, when power demand was relatively lower. Similarly, the average market clearing price in the Real-Time Market stood at Rs 5.78/unit during October 2026, registering an increase of 112% year-on-year.
Demand-Supply Dynamics Remained Volatile
However, demand-supply dynamics remained volatile even during October. Warmer weather due to El Niño and below-normal monsoon rainfall resulted in strong power demand in the first half, while cooler weather, rainfall and the impact of Cyclone Arnab led to an easing of demand during the latter days of the month. Higher supply liquidity during periods of subdued demand resulted in near-zero prices in the Real-Time Market (RTM) across multiple time blocks.
As a result, the energy market continues to adapt to changing weather patterns and demand fluctuations, ensuring efficient price discovery and trade execution.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Indian Energy Exchange Limited
Indian Energy Exchange Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
Indian falls 12.4% over three months and has not found a floor yet. D/E stands at 0.01 with a 3.72% dividend yield. Furthermore, the business records zero revenue dips and zero loss quarters in five years — a fortress balance sheet. Industry-leading margins of 66.2% reflect exceptional pricing power and operational efficiency. The stock sits at 8% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 15.4% and profits at 17.2% CAGR — a genuinely strong business. Nevertheless, the stock drops 12.4% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of Indian Energy Exchange Limited.
Capital Markets
Motilal Oswal Financial Services Limited Appoints Suresh Shukla as CEO of Wealth Management Business
Motilal Oswal Financial Services Limited appoints Suresh Shukla as CEO of Wealth Management Business, marking a significant leadership transition.
Motilal Oswal Financial Services Limited (MOFSL) has announced the appointment of Mr. Suresh Shukla as the new CEO of its Wealth Management Business, effective from November 04, 2026. This strategic move underscores MOFSL’s commitment to strengthening its leadership capabilities and driving future growth.
Leadership Transition at Wealth Management
Suresh Shukla, with nearly 30 years of professional expertise in broking and wealth management, brings a wealth of experience to his new role. Prior to joining MOFSL, he had a distinguished career at Kotak Securities and SBI Securities, where he led a workforce of over 16,000 professionals across 180+ branches.
Strategic Focus on Wealth Management
The appointment of Mr. Shukla is part of MOFSL’s broader strategy to enhance its Wealth Management division. This move is expected to bolster MOFSL’s position in the competitive financial services industry, leveraging Mr. Shukla’s extensive experience in retail broking and digital transformation.
As MOFSL continues to expand its leadership pipeline and focus on succession planning, this appointment is seen as a significant step towards achieving sustained growth and innovation in the wealth management sector.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
Motilal rises 9.4% over three months, with buying pressure holding steady. D/E of 1.32 is elevated. As a result, debt servicing will compress free cash flow in a high-rate environment. Premium net margins of 23.0% demonstrate strong cost discipline and a wide competitive moat. The stock trades at 92% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 29.1%, profits at 26.1%, and the PEG sits at 1.26 — below its growth rate. That combination is rare. Check Fundamentals of Motilal Oswal Financial Services Limited.
Capital Markets
Central Depository Services (india) Limited (cdsl) Receives Great Place to Work® Certification
CDSL, Asia’s first listed depository, receives Great Place To Work® Certification for October 2026, highlighting its commitment to workplace culture.
Central Depository Services (India) Limited (“CDSL”), Asia’s first listed depository, has received the Great Place To Work® Certification for the period October 2026 to October 2027. The recognition reflects CDSL’s commitment to building a workplace culture centered on trust, inclusion, well-being, and professional growth.
Commitment to Workplace Excellence
The Great Place To Work® Certification is a globally recognized benchmark of workplace excellence, based on an independent assessment of workplace experience and culture. The assessment evaluates key dimensions of workplace experience, including credibility, respect, fairness, pride, and camaraderie.
Leadership and Employee Engagement
Speaking on the recognition, Shri Nehal Vora, Managing Director & Chief Executive Officer, CDSL, said, “At CDSL, we have always believed that institutions are ultimately built by people. As our responsibility to India’s securities market has grown, so has our responsibility to create an environment where our people can learn, contribute, and grow together. The recognition is a testament to the belief that our colleagues have in the leadership, and the pride they have in being part of the CDSL team. This only reinforces our continued focus on building a workplace anchored in trust, belonging, and shared purpose.”
CDSL’s approach to human capital development encompasses continuous learning, leadership engagement, and holistic well-being. During FY 2025-26, the organization provided an average of 21 hours of training per employee. Platforms such as Townhalls, Guru Samvaad, Open House sessions, and the Digital Suggestion Box provide avenues for dialogue, participation, and exchange of ideas across the organization. CDSL has also continued to conduct programs addressing the physical, psychological, financial, and social well-being of its employees.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Central Depository Services (India) Limited
Central Depository Services (India) Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
Central falls 9.3% over three months and has not found a floor yet. The PEG reaches 3.14. The stock trades on brand and index weight, not on growth. Industry-leading margins of 36.8% reflect exceptional pricing power and operational efficiency. The stock holds at 31% of its 52-week range with RSI at 46. In other words, neither side has a clear edge right now. Revenue grows at 27.3% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Central Depository Services (India) Limited.
AVONMORE
Avonmore Capital & Management Services Ltd. Reports 2Q FY 2026-27: Revenue and Profit Surge
Avonmore Capital & Management Services Ltd. reports a significant rise in revenue and profit for 2Q FY 2026-27, with total revenue at Rs. 44.36 crore.
Avonmore Capital & Management Services Limited (AVONMORE) has reported consolidated financial performance for the second quarter (2Q) of the financial year 2026-27, showcasing a significant rise in revenue and profit. The company reported consolidated total revenue of Rs. 44.36 crore with a profit of Rs. 10.84 crore for 2Q FY 2026-27, as compared to total revenue of Rs. 37.04 crore with a profit of Rs. 5.99 crore in 2Q FY 2025-26.
Financial Services Performance
The Financial Services vertical, which includes Broking, Wealth Advisory, Corporate Advisory, Merchant Banking, and Debt & Equity Operations, achieved total revenue of Rs. 9.93 crore with a profit of Rs. 2.21 crore during 2Q FY 2026-27, compared to revenue of Rs. 8.99 crore with a profit of Rs. 2.86 crore in 2Q FY 2025-26. The lower performance relative to the previous quarter was primarily due to adverse capital market conditions.
Green Fuel Business
The Green Fuel Business, through its joint venture Premier Green Innovations Private Limited (PGIPL), recorded total revenue of Rs. 202.24 crore and a profit of Rs. 12.59 crore during 2Q FY 2026-27, compared to revenue of Rs. 129.90 crore and a profit of Rs. 3.66 crore in 2Q FY 2025-26. The Himachal Plant is operational at full capacity, while the Odisha Plant is expected to commence full-fledged production from November 2026.
Infrastructure Consulting Business
The Infrastructure Consulting Business earned revenue of Rs. 32.94 crore with a profit of Rs. 2.90 crore during 2Q FY 2026-27, compared to revenue of Rs. 25.89 crore with a profit of Rs. 2.42 crore in 2Q FY 2025-26. The increase in revenue is mainly attributable to higher revenue from DPR projects.
Looking ahead, Avonmore Capital & Management Services Ltd. expects growth in revenue and profitability to be 20-25% compared to the previous financial year. The company remains optimistic about sustaining the growth trend in both revenue and profitability over the previous year.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Avonmore Capital & Management Services Limited
Avonmore Capital & Management Services Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
Avonmore posts a 31.2% three-month gain, but softens in the last few weeks. Revenue contracts at -3.3% CAGR. That signals structural headwinds, not a short-term blip. No meaningful dividend — total return is entirely dependent on capital appreciation. The stock gives back 1.9% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at -3.3% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of Avonmore Capital & Management Services Limited.
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