IEX Share Price: Today, 24 July was like a bad accident for the Indian Energy Exchange (IEX) shareholders. The shares of this company owned by the Government of India fell up to 30 per cent in one stroke during trading today. Due to this, assets worth about Rs 5,000 crore were gutted by investors.
IEX shares closed at the BSE at Rs 187.89 on Wednesday 23 July a day earlier. The company’s market value was around Rs 16,750 crore. However, today the price of IEX shares came to its new 52-wheew of Rs 131.50 by diving of 30 per cent during trading. With such a decline, the company’s market value has also come down to about Rs 11,800 crore. That is, the market value has fallen by about Rs 4,950 crore as compared to tomorrow.
Why did IEX share decline?
Market coupling is a model through which the dialects of ‘Buy’ and ‘SELL’ coming on all the power exchanges of the country are collected in one place and they are mixed with a similar market clearing price. This means that with the implementation of this rule, the price of electricity on all exchanges will also be the same.
This rule is considered a setback for IEX’s business model. IEX is currently the largest power of the country’s largest power. About 85 to 90 percent of the electricity trading is from this platform. However, market experts believe that this dominance of IEX may end with market coupling rules and its market share and trading platforms may fall drastically. Due to this, there was a huge decline in its shares today.
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