PTC India Share Price Gains As IEX Plummets: What's Behind This Energy Market Shakeup By CERC?
Shares of PTC India has surged almost 5%, with an intraday high of Rs 207, as the company stands to benefit from the news of the Central Electricity Regulatory Commission (CERC) implementing market coupling for the Day Ahead Market (DAM) starting January 2026.
The new policy that aggregates buy and sell orders from all power exchanges to determine a uniform market clearing price, has sent Indian Energy Exchange (IEX) into a lower circuit, with its stock plummeting 20% in trade on Thursday.
PTC India, on the other hand, has gained in trade today, largely on back of their stake in Hindustan Power Exchange (HPX).
The idea of market coupling is to eliminate individual power discovery from market exchanges, replacing it with a centralised algorithm.
This serves as a key blow for IEX, which enjoys an 85% share in the spot market and thrives on price discovery. But once market coupling kicks in, IEX may no longer enjoy that price discovery power.
Put simply, the policy levels the playing field among energy exchanges, thereby benefitting smaller players such as HPX, in which PTC India has stake of 22.62%, as of May 2025.
HPX, therefore, could capture significant trading volumes as market coupling shifts competition to service quality and innovation and perhaps even technology.
HPX is powered by advanced technology, which is backed by BSE and ICICI Bank.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
