IEX shares zoom 14% on hopes of relief in the event of market coupling

Shares of the Indian Energy Exchange (IEX) rose as much as 14% to an intraday high of Rs 153.35 on the BSE on Tuesday, January 6, on hopes of relief in the market linkage case heard by the Electricity Appellate Tribunal (APTEL).The tribunal, which heard the controversial market coupling rules proposed by the Central Electricity Regulatory Commission (CERC), raised several concerns during the hearing and questioned how the market coupling rules were formulated. APTEL noted that CERC should have acted independently in drafting the framework.

It also pointed out excessive theatrics during the formulation process and emphasized the need for CERC to maintain independence and remain above suspicion.According to CNBC TV-18, the sharp upward movement of IEX shares followed developments in the ongoing legal proceedings. APTEL set January 9 as the next date for the hearing after counsel requested additional time.

Reports also suggest that the tribunal has informed CERC that if it signals a possible revocation of the order, the case would be closed on Friday.

On Monday, the energy exchange also shared its third quarter business updates for FY26. Indian Energy Exchange, the country’s premier electricity trading platform, recorded an electricity traded volume of 34.08 billion units (excluding TRAS) in the third quarter of FY26, reflecting a year-on-year growth of 11.9%.

In the third quarter of the current financial year, improved hydro and wind power supply, along with steady coal-based generation, increased supply liquidity on the exchange platform. This contributed to a significant price drop in key market segments. The market clearing price in the Day-Ahead market was Rs 3.22 per unit in the third quarter of FY26, down 13.2% from the same quarter last year. Similarly, the Real-Time Market Clearing Price fell to Rs 3.26 per unit, down 11.6% year-on-year.

IEX closed Tuesday’s session at Rs 146.80 on the BSE, up 9.3%.

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