Shares of Energy Exchange Ltd (IEX) are in focus amid a hearing by the Electricity Appellate Tribunal (APTEL) on the Central Electricity Regulatory Commission's (CERC) market coupling directions. Amid this, the stock remained highly volatile today. The stock opened at Rs 150 against the previous close of Rs 150.10 on the BSE. It dipped further to touch an intraday low of Rs 141.4, representing a fall of 5.8 per cent. However, the stock recovered as the CERC lawyer sought more time to respond to the withdrawal of the coupling order. Ahead of the hearing, it issued a circular staying the market coupling order.
The scrip surged later to touch the intraday high of Rs 160.30, a gain of 6.8 per cent from the last closing. Last seen, IEX shares were trading flat at Rs 149.87 apiece.
Stock's 14-day relative strength index
Technically, the stock trades above the 5-day, 20-day, 50-day, and 100-day moving averages but below the 200-day moving average.
Stock has been highly volatile today with an intraday volatility of 5.38 per cent, and its 14-day relative strength index (RSI) is 62.33. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Share price history
The stock has delivered a return of 92.85 per cent in five years but has corrected 17.13 per cent in one year. On a year-to-date basis, the scrip has gained 7.50 per cent against the dip of 1.64 per cent in the benchmark index.
What Is Market Coupling?
Market coupling is done to couple different markets operating in different geographies. There are three power exchanges in India - IEX, Power Exchange India Limited (PXIL) and Hindustan Power Exchange Limited (HPX). The IEX has the largest market share in total power trade at multiple exchanges in India.
Currently, these exchanges have their own market clearing prices (MCPs). In an order dated July 23, the CERC has directed the implementation of the coupling of Day-Ahead Market (DAM) of the power exchanges in a round-robin mode by January 2026.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
