IEX shares zoom 14% on hopes of relief in market coupling case

Shares of the Indian Energy Exchange (IEX) on Tuesday, January 6 on the BSE closed at Rs. It rose as much as 14% to an intra-day high of 153.35.

The tribunal, while hearing the controversial market coupling regulations proposed by the Central Electricity Regulatory Commission (CERC), raised multiple concerns during the hearing, questioning how the market coupling regulations were framed. APTEL commented that CERC should act independently while drafting the framework.

He also pointed out the excessive theatrics observed in the formulation process and emphasized the need for CERC to maintain its independence and remain above suspicion.

According to CNBC TV-18, the sharp jump in IEX shares followed developments in the ongoing legal proceedings. APTEL has fixed January 9 as the next date for hearing after the lawyer sought additional time.

Reports also suggest that the tribunal had informed CERC that if it indicated a possible order withdrawal, the case would be closed by Friday.

On Monday, Power Exchange also shared its third quarter business updates for FY26. Indian Energy Exchange, the country’s leading electricity trading platform, recorded an electricity traded volume of 34.08 billion units (excluding TRAS) in the third quarter of FY26, a growth of 11.9% year-on-year.

In the third quarter of the current fiscal, improved supply from hydro and wind sources, along with stable coal-fired generation, increased supply liquidity on the exchange platform. This led to a significant drop in prices in key segments of the market.

The market clearing price per unit in the day-head market in Q3 of FY26 was Rs. was 3.22, which registered a decrease of 13.2% compared to the same quarter last year. Similarly, the real-time market clearing price fell to Rs. 3.26 per unit, down 11.6% year-on-year.

IEX closed Tuesday’s session on BSE at Rs. ended at 146.80, up 9.3%.

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