Why IEX Shares Are Falling Over 10% Today ?
The shares of Indian Energy Exchange (IEX) experienced a nearly 4.8 percent decline intraday following an announcement by the Central Electricity Regulatory Commission (CERC) regarding the initiation of a shadow pilot program on market coupling for India's power exchanges.
STOCK MARKET NEWS
9/24/20241 min read
Why IEX Shares Are crashing Over 7% Today ?
IEX‘s share price which started the day in the green on Tuesday slumped sharply after reports surfaced that the government was going ahead with the market coupling proposal.
The final decision on the timeline for implementation will be taken by CERC. The Ministry is aiming to roll out the new mechanism either by the end of the current fiscal year or at the start of FY26.
The market coupling proposal comes in the backdrop of the Indian Energy Exchange’s (IEX) shares witnessing an upward trend.
In September 2024, brokerage firm Antique maintained a bullish call and raised its target price on the IEX scrip, citing the company’s double-digit volume growth.
Antique held a “buy” call on the stock and raised the target price to ₹262.