Latest news with #IEX
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Business Standard
29 minutes ago
- Business
- Business Standard
IEX tanks 15%: Brokerages decode what CERC's nod to 'market coupling' mean
IEX shares were locked at the lower circuit on the stock exchanges today as approval to market coupling norm will shift volumes to other competing exchanges, denting growth prospects of IEX Listen to This Article Indian Energy Exchange (IEX) share price today Indian Energy Exchange (IEX) shares tanked 15 per cent to ₹159.70 on the BSE in Thursday's intraday trade after the Central Electricity Regulatory Commission (CERC) approved the implementation of 'market coupling' norms with the Day Ahead Market (DAM), in accordance with the Power Market Regulations of 2021. The stock of the electricity exchange and data platform company has corrected 31 per cent from its 52-week high level of ₹244.35 touched on September 24, 2024. It had hit a 52-week low of ₹151.05 on March 4, 2025. Till 09:17 AM, a combined 1.8 million
Reuters
an hour ago
- Business
- Reuters
Indian Energy Exchange falls on fears of rising competition from new pricing rules
July 24 (Reuters) - Shares of Indian Energy Exchange (IEX) ( opens new tab fell as much as 15% on Thursday, as investors grew concerned that a planned overhaul of electricity pricing could increase competition and erode the bourse's market dominance. IEX, currently India's leading platform for spot electricity price discovery, faces pressure as the power regulator prepares to introduce market coupling from January in a phased rollout. Under the new system, other power exchanges will also act as market couplers, challenging IEX's central role. The stock was on track for its seventh consecutive session of losses and logged its worst intraday single-day performance since listing in 2017. Market coupling is an economic model used in energy markets to create a single, uniform price for electricity across different trading platforms or exchanges. The order is "worse" than "what we have built in" and IEX is likely to feel the impact on its market share, says Bernstein. The brokerage, which maintains a "market perform" rating on the stock, has cut its target price to 122 rupees from 160 rupees to "reflect full impact of market coupling". On an average, IEX shares are rated "buy" with median target price of 215 rupees, per data compiled by LSEG. Shares of the company were trading down 15% at 159.7 rupees as of 1019 local time.
News18
2 hours ago
- Business
- News18
IEX Shares Tank 10% After Regulator Clears Market Coupling for Day-Ahead Power Trade
Last Updated: Shares of Indian Energy Exchange Ltd (IEX) hit the 10% lower circuit on Thursday, July 24; Key points for investors Shares of Indian Energy Exchange Ltd (IEX) hit the 10% lower circuit on Thursday, July 24, following reports that the Central Electricity Regulatory Commission (CERC) has approved the implementation of market coupling in the Day-Ahead Market (DAM). As part of the first phase of these new regulations, DAM will be coupled by January 2026. Under this model, various power exchanges will rotate as Market Coupling Operators (MCOs) through a round-robin mechanism. What Is Market Coupling? Market coupling is a process that aggregates buy and sell bids from all power exchanges in the country to arrive at a single, uniform market clearing price (MCP). This means electricity traded across all exchanges will follow one uniform price point at any given time. While the change won't have an immediate impact on end consumers, it could eventually lead to lower power tariffs. Impact on Power Exchanges Once implemented, power exchanges will primarily act as platforms to receive bids and dispatch power, reducing their role in price discovery. The move aims to enhance transparency and efficiency in the power market. IEX Share Price History At 9:15 a.m., IEX shares were down 10% at ₹169.1 on the NSE. Over the past year, IEX shares have gained nearly 7%, outperforming the Nifty 50, which has risen around 3.3% in the same period. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 hours ago
- Business
- Time of India
IEX shares hit 10% lower circuit after CERC nod for market coupling ahead of Q1 results
Shares of Indian Energy Exchange (IEX) crashed 10% to hit their lower circuit at Rs 169.10 on BSE on Thursday, July 24, after the Central Electricity Regulatory Commission (CERC) formally announced its decision to begin implementing power market coupling in India. The announcement came just hours ahead of IEX's Q1FY26 results, which are expected later in the day. In an official order issued late Wednesday, the CERC stated that it has decided to initiate market coupling in a phased manner. The first phase will involve coupling the Day-Ahead Market (DAM) operated by the country's power exchanges, using a 'round-robin' mode by January 2026. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The order follows consultations and submissions made by Grid-India, the national grid operator, along with various power sector stakeholders. The move comes after months of deliberations aimed at enhancing transparency, improving efficiency, and ensuring better price discovery across India's electricity markets. According to the CERC, 'Based on the submissions made by Grid-India and various consultations held... the Commission has decided to initiate the process for implementing market coupling in a phased manner.' What is Power Market Coupling? Power market coupling is a mechanism used in electricity markets to unify the price discovery process by pooling bids from multiple power exchanges and clearing them centrally. Live Events The aim is to achieve price convergence across different regions and platforms by enabling a more coordinated and efficient market operation. As per the CERC order, the objective is to reduce price disparities across regions and establish a more consistent, uniform pricing structure. Currently, multiple power exchanges operate independently, including Indian Energy Exchange (IEX). The coupling of the Day-Ahead Market (DAM) would mean that bids from all participating exchanges will be matched centrally to determine a single market clearing price. The implementation of this framework is expected to impact market operations, settlement mechanisms, and trade volumes handled by these exchanges. IEX, being a dominant player with a significant share in the day-ahead and real-time markets, is likely to be directly affected by the operational changes associated with market coupling. IEX Q1 Earnings Today The timing of this regulatory announcement coincides with the anticipation surrounding IEX's Q1FY26 earnings, scheduled to be released later today. Investors and analysts will be closely watching for management commentary on the regulatory update, its operational implications, and the company's preparedness for the phased implementation timeline. IEX had earlier reported steady growth in trade volumes and participation across segments, including DAM, Real-Time Market (RTM), and Green Market. The upcoming results are expected to provide further clarity on trends in electricity demand and exchange-based trading activity for the April–June quarter. Also read: Mukul Agrawal adds 7 new stocks to portfolio; picks include recently listed stock. Check details IEX share price history Over the past year, IEX shares have declined by 3.07%. On a year-to-date (YTD) basis, they have dropped 6.21%. In the last six months, the stock has remained relatively flat, registering a marginal decline of 0.18%. Over the three-month period, it has dropped by 11.35%, while in the past month alone, it has shed 9.93%.
Reuters
11 hours ago
- Business
- Reuters
India to start market coupling for power exchanges from January
July 23 (Reuters) - India's power regulator on Wednesday said it had decided to begin implementing market coupling in a phased manner for electricity trading from January. Market coupling is an economic model used in energy markets to create a single, uniform price for electricity across different trading platforms or exchanges. The regulator's move is aimed at improving price discovery and system efficiency. The Central Electricity Regulatory Commission (CERC) said in an order that the day-ahead market segment of all power exchanges will be coupled using a common system. Under the new system, power exchanges will take turns acting as the market coupling operator. Grid-India will serve as a backup and audit operator. The CERC said it would consider coupling the real-time market and other segments like the term-ahead market at a later stage, after more pilot runs and consultations. All power exchanges have been directed to share data with Grid-India and the CERC to support the rollout, the regulator said. The CERC said it would issue further orders based on the progress of implementation. Currently, the Indian Energy Exchange ( opens new tab is the country's most prominent platform for electricity spot price discovery. However, with the introduction of market coupling, other power exchanges will also act as market couplers. Analysts say this could reduce the IEX's dominance in price discovery and affect its market share.
