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News Topical, Digital Desk : On Thursday, July 24, 2025, the stock of Indian Energy Exchange (IEX) witnessed a huge decline after the decision taken by the Central Electricity Regulatory Commission (CERC) on market coupling. After a day's trading on Thursday, the stock fell 27.9% to close at Rs 135.49 per share. Intraday it slipped to Rs 131.50 per share, which is a decline of about 30% from Wednesday's closing price. In this way, IEX shareholders had to suffer huge losses in just one session.
A major matter of concern for these investors is that the company is also going to release the results today. In such a situation, if the results are disappointing, then the process of heavy pressure on the stock may continue even further.
First of all, let us understand what decision CERC has taken...
Power exchange companies like IEX used to do price discovery on their platform according to demand-supply till now. After the decision of CERC, companies will now lose this right, that is, the biggest USP (Unique Selling Point) of IEX is now in danger. As per the order of CERC, it will be implemented in a phased manner. Market Coupling will start in DAM from January 2026. In this, all exchanges will play the role of Market Coupling Operator (MCO).
What is this market coupling? In market coupling, a Market Coupling Operator (MCO) collects buy and sell orders from all power exchanges. After this, these orders are combined together and cleared at a uniform price - no matter which exchange the order came from. All the exchanges will be made MCO one by one, while Grid India will audit this process and play a backup role.
How much loss did IEX shareholders suffer? After this huge fall in IEX Share, all the shareholders of the company have suffered a huge loss. On Wednesday, IEX closed at Rs 187.89 per share. In this way, till the market closed on Wednesday, the total market cap of the company was Rs 16,754 crore. But, on Thursday it has come down to Rs 12,081 crore. In intraday it had slipped to Rs 11,725 crore. In this way, in just one day, the market capitalization of the company has seen a huge fall of Rs 5,029 crore.
How much money did the retail shareholders lose? Retail investors were the most affected by this fall. 13.85 lakh retail investors have 25.04 crore equity shares (28.09% stake) of IEX. The value of their investment has decreased by more than Rs 1312 crore in one day. LIC has 4% stake in the company and mutual funds have 27.83% stake, due to which these investors also suffered losses.
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