IEX Shares Crash 26% After CERC Approves Market Coupling Norms
Aaj Thursday, 24 July ko Indian Energy Exchange Ltd (IEX) ke shares mein zabardast girawat dekhi gayi. Stock 26% tak crash kar gaya, jaise hi Central Electricity Regulatory Commission (CERC) ne Market Coupling norms ko approve kiya. Is news ke turant baad NSE par 4.3 crore sell orders pending the, aur stock lower circuit pe trade kar raha tha.
Market Coupling Kya Hai Aur Yeh IEX Ko Kaise Affect Karta Hai?
Market Coupling ka matlab hota hai ki power exchanges ke beech price discovery centralized ho jaati hai. Alag-alag platforms ke orders ek saath match kiye jaate hain taaki ek uniform market clearing price decide ho.
Ab tak, IEX ko “best platform” mana jaata tha for price discovery, lekin ab ye advantage khatam ho sakta hai. CERC ke naye rules ke mutabiq, January 2026 tak Day-Ahead Market (DAM) ka coupling shuru ho jaayega — jisme har exchange turn by turn Market Coupling Operator (MCO) banega.
Grid-India ne is decision ke khilaaf report di thi, lekin phir bhi CERC ne approval de diya. Grid-India ko ab backup operator banaya gaya hai jo audit aur software development karega Term-Ahead Market ke liye.
Kya Hai IEX ke Liye Iska Asar?
IEX ka aaj tak 85% market share tha spot market mein. Market coupling ke baad yeh share decline ho sakta hai, kyunki sabhi platforms par uniform pricing hogi.
Brokerage firm Bernstein ne IEX par apni rating “Market-Perform” rakhi hai, lekin price target ₹160 se ₹122 kar diya — jo ki abhi ke price se 35% downside imply karta hai.
Bernstein ne kaha:
“Hum 50% chance maan rahe the coupling ka, lekin ab yeh 100% confirmed hai. Transaction charges bhi competitive pressure ke kaaran kam ho jaayenge.
Stock Position & Ban
Aaj IEX ka stock ₹139.02 par open hua — 26% neeche. Yeh stock abhi F&O ban mein bhi hai, jiska matlab hai ki naye futures ya options position create nahi kiye ja sakte.
IEX Q1 Results Bhi Aaj
Company apne Q1 results bhi aaj hi report karegi. Investors is baat ka intezaar kar rahe hain ki kya company koi major strategic response degi is regulatory shock ke baad.
Conclusion:
CERC ka market coupling decision IEX ke liye ek bada jhatka sabit ho sakta hai. Isse na sirf unka market share impact hoga, balki stock ka long-term growth potential bhi questionable ho jaata hai. Investors ko ab regulatory landscape aur upcoming quarterly results dono ka dhyan se analysis karna chahiye.
❓ FAQs
Q1. Market Coupling kya hota hai?
Market Coupling ek aisa mechanism hai jisme sabhi power exchanges ke buy-sell orders centralized hoke ek common price generate karte hain — taaki price discovery uniform ho.
Q2. IEX ko isse kya nuksaan hai?
IEX ka competitive edge chala jaayega kyunki ab price discovery centralized hogi aur sabhi exchanges equal footing pe aajayenge.
Q3. Kya IEX ka future uncertain ho gaya hai?
Short term mein uncertainty zyada hai. Long term mein company ki strategy aur regulatory compliance pe depend karega ki wo regain kar paaye ya nahi.
Q4. Kya yeh achha time hai IEX stock kharidne ka?
Current scenario mein institutional investors cautious hain. Jab tak clarity nahi milti regulatory side se, risk high hai.
