Tue Sep 24 10:10:51 UTC 2024: ## IEX Shares Plunge as Government Plans Power Exchange Coupling

**Mumbai, India** – Indian Energy Exchange (IEX) shares plummeted over 10% today following reports that the government is moving forward with plans for market coupling in the power exchange sector. The proposal, aimed at establishing uniform market clearing prices across exchanges, is causing uncertainty among investors.

A significant block deal, where 83 lakh shares (0.9% of the company’s equity) were exchanged for ₹181 crore, added to the bearish sentiment. The IEX share price closed at ₹213.61, down 10.76% from the previous day.

The Ministry of Power has tasked GRID-INDIA with completing a pilot study for market coupling, with a final report expected within a month. The new mechanism could be implemented by the end of the current financial year or by the start of FY26.

Market coupling is a regulatory move that aims to create a more unified and efficient power market. However, the potential impact on IEX’s business model is unclear, prompting investors to sell their shares.

The news follows reports that Mitsubishi UFJ Financial Group (MUFG) sold a 2.05% stake in Tech Mahindra, contributing to the broader market uncertainty.

**Other business news:**

* Northern Arc Financial shares dropped nearly 13% from their listing price on profit booking.
* Paytm shares rose 3% after Emkay upgraded its rating to “Add”.
* JTL Industries share price surged over 5% following news of a new project.

The Indian stock market is currently experiencing volatility, with investors closely watching developments related to the government’s plans for power exchange coupling.

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