IEX Shares Plunge 30% After Market Coupling Nod by Regulator
CERC’s approval for market coupling from Jan 2026 sends IEX stock to 52-week low amid record trading volumes
- Shares of IEX fell 30% on Thursday, touching a 52-week low after CERC approved market coupling norms.
- New regulation effective January 2026 aims to introduce more competition in a market largely led by IEX.
- Trading activity surged, with 12.77 crore shares exchanged—more than the cumulative July volume.
GG News Bureau
Mumbai, 25th July: Shares of Indian Energy Exchange Ltd. (IEX) plunged by 30% on Thursday after the Central Electricity Regulatory Commission (CERC) approved the implementation of market coupling norms, effective from January 2026. The move is seen as a step toward increased competition in India’s power trading space, which has so far been largely dominated by IEX.
The stock’s decline marked the biggest single-day fall in IEX’s trading history, dragging it to a 52-week low. The market reaction was swift and sharp, with volume activity spiking dramatically. A staggering 12.77 crore shares were traded on the day—more than all 16 trading sessions in July combined, which saw a cumulative volume of 11.13 crore.
Market turnover also reflected the panic selling, with IEX shares worth ₹1,740 crore changing hands. Notably, 43.75% of the traded shares were marked for delivery, underlining the scale of long-term investor exits.
Interestingly, volume activity had begun picking up ahead of the regulatory announcement. The three sessions prior to Thursday saw volumes of 78 lakh, 97 lakh, and 92 lakh, against the previous 10-day average of 61 lakh—hinting at speculative positioning.
Adding to the day’s developments, IEX reported its quarterly earnings post-market hours. The company posted a 14.7% year-on-year rise in revenue, and earnings before tax grew by 16%, reflecting underlying business stability despite market turmoil.
Reacting to the regulatory development, IEX stated that it is undertaking a detailed impact assessment to evaluate the implications of market coupling and will keep stakeholders informed of further developments.
Meanwhile, IEX continues to be under the Futures and Options (F&O) ban, which restricts traders from initiating new derivative positions in the stock.
The company’s management is scheduled to appear on CNBC-TV18 at 9:50 AM on Friday to address concerns and provide clarity to investors on the road ahead.
