On Monday, Indian Energy Exchange (IEX) Ltd saw a drop of up to 6% due to concerns over Market Coupling. This decline in the stock price is being attributed to comments made by Power Secretary Pankaj Agarwal, who stated that work on Market Coupling is ongoing but did not provide any details on the timeline for its implementation.
In the past 5 days, IEX shares have fallen by around 2.33%. Over the last month, the stock has dropped 11.28%, though over the past year, it has gained 45.10%.
Business Performance
According to IEX’s September business update:
- Total volume increased by 24% year-on-year to 11,370 MU.
- Electricity volume rose by 21% year-on-year to 10,332 MU.
- Renewable Energy Certificates (REC) volume doubled, increasing by 100% to 1,031 MU.
- The Market Clearing Price in the Day-Ahead Market (DAM) fell by 33%, now at 4.18 INR per unit.
Analyst Outlook
Analysts at Elara Securities mentioned that if Market Coupling is implemented, IEX’s market share could decrease from the current 84% to 70% by 2027.
Additionally, the Ministry of Power has launched the National Electricity Plan (2023-32) to meet India’s growing power demands. By 2030, electricity demand is expected to exceed 425 GW, with an estimated increase to 458 GW by 2032. Transmission line capacity is also set to expand by 6.48 lakh circuit kilometers by 2032.
Indian Energy Exchange (IEX) Stock Summary
| Details | Figures |
|---|---|
| Current Price | 193.89 INR (+1.20%) |
| Open Price | 191.00 INR |
| High Price | 195.49 INR |
| Low Price | 190.00 INR |
| Market Capitalization | 17.24K Crore INR |
| P/E Ratio | 46.58 |
| Dividend Yield | 1.29% |
| 52-Week High | 244.40 INR |
| 52-Week Low | 121.35 INR |
| 5-Day Change | -2.33% |
| 1-Month Change | -11.28% |
| 1-Year Change | +45.10% |
| YTD Change | Not Provided |
| Market Clearing Price (DAM) | 4.18 INR per unit |
| Total Volume (September) | 11,370 MU (+24% YoY) |
| Electricity Volume (September) | 10,332 MU (+21% YoY) |
| REC Volume (September) | 1,031 MU (+100% YoY) |
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