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Moneycontrol

IEX shares slide more than 4% after India’s Supreme Court clears CERC to draft market-coupling rules

AI Market Summary
India's Supreme Court declined to hear IEX's plea at this stage, allowing CERC to proceed with market-coupling regulations. The mechanism would pool orders across exchanges to produce a single market-clearing price, reducing IEX's standalone price-discovery power and potentially compressing its competitive moat. The ruling triggered a sharp drop in IEX shares, signalling heightened regulatory overhang for India's power-trading ecosystem.
Impact level
● Medium
Affected assets
NCSINIFTY52USD/USDT+1.03%
AI Insight · NCSINIFTY52USD/USDTAI Insight
▼ Bearish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
India’s Supreme Court declined to hear Indian Energy Exchange’s (IEX) appeal on market-coupling regulation, affirming the Central Electricity Regulatory Commission’s (CERC) authority to push the mechanism. Since 2024, CERC has cleared a shadow pilot led by the Grid Controller of India, with IEX, PXIL and HPX rotating as the market-coupling operator. From January 2026, the Grid Controller of India is set to aggregate prices across power trading platforms and publish a single reference price. The ruling weakens IEX’s pricing power and independent role in spot power trading, sending the stock down more than 4% in a single session.
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