IEX Share Price Extends Gains As APTEL Weighs Key Market Coupling Case
Adding to the positive sentiment, IEX released a robust business update for the third quarter of FY26 on Tuesday.
Shares of Indian Energy Exchange Ltd. (IEX) have once again surged in trade on Wednesday, extending the stock's upward momentum in the wake of the Appellate Tribunal for Electricity (APTEL) weighing the market coupling mandate.
The stock is currently trading at Rs 152.4, accounting for gains of around 2.5%. This is a continuation of Tuesday's rally, when the stock had gained as much as 10% in a late trade surge.
IEX rally on Tuesday came amidst aggressive arguments from the company's legal counsel, who raised serious procedural objections regarding a key report submitted by Power Grid.
The company itself confirmed to the exchanges that the rally on Tuesday was purely 'market driven'.
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IEX Shares Extend Gains. (Photo: NDTV Profit)
During the proceedings, the counsel of IEX argued that a pivotal report, reportedly submitted by Power Grid in the first few weeks of January 2025, has still not been made available to the exchange.
Market coupling would necessitate a single clearing price across all power exchanges, a structural shift that investors would erode IEX’s dominance in the market. The exchange currently commands nearly 85% of the market share.
Adding to the positive sentiment, IEX released a robust business update for the third quarter of FY26 on Tuesday.
The exchange reported a total electricity traded volume of 34.08 billion units, marking a nearly 12% year-on-year increase.
Having rallied almost 13% in the las two sessions, shares of IEX are currently trading with a relative strength index of 69. Although this suggests the market sentiment is still neutral, it is tiling towards the side of overbought territory.
