IEX shares hit 10% upper circuit limit, a day after 29% slide; here's why
IEX shares hit their upper circuit limit at Rs 145.65 apiece on BSE, offering some respite to its 13.59 lakh retail investors.
- Jul 25, 2025,
- Updated Jul 25, 2025 10:15 AM IST
Shares of Indian Energy Exchange Ltd (IEX) staged a rebound in Friday's trade, rising 10 per cent, a day after selling a massive 29 per cent, as investors judged the recent correction as excessive. The stock also found support from IEX's June quarter results, which suggested a 25.2 per cent year-on-year (YoY) surge in consolidated profit at Rs 120.70 crore for the June quarter. IEX will hist a conference call at 2:30 pm today, which may help address investors concerns and offer valuable insights into the CERC's fresh order.
IEX shares hit their upper circuit limit at Rs 145.65 apiece on BSE, offering some respite to its 13.59 lakh retail investors. Turnover stayed unusually high. A total of Rs 480 crore worth IEX shares changed hands on NSE and BSE, data showed.
IEX's consolidated revenue for the June quarter came in at Rs 184.2 crore, up 19.2 per cent from Rs 154.50 crore in the year-ago quarter.
MOFSL said IEX's revenue was in line with its estimate, Ebitda came in below its anticipation but PAT was 5 per cent above estimate, mainly on account of higher-than-expected other income. The brokerage suggested a 'Neutral' rating on the stock.
IEX reported 1QFY26 results that are in-line with our estimates, except PAT, which was beat due to higher other income, JM Financial said.
IEX said India’s peak summer power demand in 2025 reached 242 GW on June 12. The Ministry of Power took proactive measures, including extending Section 11 of the Electricity Act — mandating imported coal-based plants to operate at full capacity until the end of June — activating gas-based power plants, and ensuring adequate domestic coal supply to meet this peak demand without any power shortages.
"Despite forecasts of an intense summer leading to a peak demand expectation of 277 GW, early monsoon and widespread unseasonal rains kept temperatures lower, resulting in lower-than-expected power demand. According to government data, India’s electricity consumption in Q1FY’26 reached 446 BUs, lower by 1.3% as compared with Q1 FY’25," it said.
CERC order On the CERC order, IEX said it is currently conducting a detailed impact assessment of this change and will keep stakeholders updated on future developments. This regulatory development signals a proposed change in the market mechanism of the Day-Ahead Market (DAM), it said.
In a filing to the stock exchanges, the Indian Energy Exchange (IEX) stated that the Commission has initiated the process of implementing market coupling in a phased manner. This includes the coupling of the Day-Ahead Market (DAM) across power exchanges through a round-robin mechanism, targeted for implementation by January 2026.
Under this round-robin framework, power exchanges will assume the role of Market Coupling Operator (MCO) on a rotational basis. Grid-India will serve as the fourth MCO, responsible for backup and audit functions. The commission has also directed the exploration of market coupling in other segments—such as the Real-Time Market (RTM) and the Term-Ahead Market (TAM)—through shadow pilots and further regulatory consultations.
Of all the electricity that is traded in the Indian power exchanges, IEX has a share of about 90 per cent. Market coupling, once implemented, is likely to reduce the dominance of IEX in terms of market share, stock analysts said.
There were fears that IEX would face the prospects of becoming a neutrak clearing platform at par with other power traders like PTC India Ltd. Since all exchanges would have identical pricing, IEX may no longer leverage its platform efficiency to offer better prices, since it will be centralised.
Shares of Indian Energy Exchange Ltd (IEX) staged a rebound in Friday's trade, rising 10 per cent, a day after selling a massive 29 per cent, as investors judged the recent correction as excessive. The stock also found support from IEX's June quarter results, which suggested a 25.2 per cent year-on-year (YoY) surge in consolidated profit at Rs 120.70 crore for the June quarter. IEX will hist a conference call at 2:30 pm today, which may help address investors concerns and offer valuable insights into the CERC's fresh order.
IEX shares hit their upper circuit limit at Rs 145.65 apiece on BSE, offering some respite to its 13.59 lakh retail investors. Turnover stayed unusually high. A total of Rs 480 crore worth IEX shares changed hands on NSE and BSE, data showed.
IEX's consolidated revenue for the June quarter came in at Rs 184.2 crore, up 19.2 per cent from Rs 154.50 crore in the year-ago quarter.
MOFSL said IEX's revenue was in line with its estimate, Ebitda came in below its anticipation but PAT was 5 per cent above estimate, mainly on account of higher-than-expected other income. The brokerage suggested a 'Neutral' rating on the stock.
IEX reported 1QFY26 results that are in-line with our estimates, except PAT, which was beat due to higher other income, JM Financial said.
IEX said India’s peak summer power demand in 2025 reached 242 GW on June 12. The Ministry of Power took proactive measures, including extending Section 11 of the Electricity Act — mandating imported coal-based plants to operate at full capacity until the end of June — activating gas-based power plants, and ensuring adequate domestic coal supply to meet this peak demand without any power shortages.
"Despite forecasts of an intense summer leading to a peak demand expectation of 277 GW, early monsoon and widespread unseasonal rains kept temperatures lower, resulting in lower-than-expected power demand. According to government data, India’s electricity consumption in Q1FY’26 reached 446 BUs, lower by 1.3% as compared with Q1 FY’25," it said.
CERC order On the CERC order, IEX said it is currently conducting a detailed impact assessment of this change and will keep stakeholders updated on future developments. This regulatory development signals a proposed change in the market mechanism of the Day-Ahead Market (DAM), it said.
In a filing to the stock exchanges, the Indian Energy Exchange (IEX) stated that the Commission has initiated the process of implementing market coupling in a phased manner. This includes the coupling of the Day-Ahead Market (DAM) across power exchanges through a round-robin mechanism, targeted for implementation by January 2026.
Under this round-robin framework, power exchanges will assume the role of Market Coupling Operator (MCO) on a rotational basis. Grid-India will serve as the fourth MCO, responsible for backup and audit functions. The commission has also directed the exploration of market coupling in other segments—such as the Real-Time Market (RTM) and the Term-Ahead Market (TAM)—through shadow pilots and further regulatory consultations.
Of all the electricity that is traded in the Indian power exchanges, IEX has a share of about 90 per cent. Market coupling, once implemented, is likely to reduce the dominance of IEX in terms of market share, stock analysts said.
There were fears that IEX would face the prospects of becoming a neutrak clearing platform at par with other power traders like PTC India Ltd. Since all exchanges would have identical pricing, IEX may no longer leverage its platform efficiency to offer better prices, since it will be centralised.