July 24 proved to be a very bad day for Indian Energy Exchange (IEX) shareholders. The stock fell 29 percent of the BSE by 29 percent and it closed at Rs 132.45. This was the biggest decline of the stock in a day. The reason for this is reports that the Central Electricity Regulatory Commission has approved the implementation of market coupling rules from January 2026 to be implemented in the day-up market.
The bids coming for the purchase and sale of electricity at all power exchanges in market comptration are collected and mixed in one place. Then a similar market clearing price is fixed on the basis of it. This will have the same price of electricity trading on all power exchanges at a time.
With the implementation of market coupling, IEX will lose the advantage of having the best platform for price discovery. It is currently the country’s largest power exchange. Brokerage firm Bernstein fears that the decline of the stock is not yet to stop. Bernstein has retained the ‘Market-performance’ rating on IEX shares, but has reduced the target price from ₹ 160 to ₹ 122.
IEX is not the only share that has faced such a big decline in a day. In the last 5 years, the list of the biggest decline in Intrade includes names like Paytm, G Entertainment, Adani Enterprises.
Zee Entertainment | On 23 January 2024, the stock hit 32 percent. This was the day when Zee’s mega merger deal with Sony was canceled.
Adani Enterprises | Hindburg report was caused by a fall in this stock. The stock came down 28 percent on 1 February 2023. After Hindenberg’s report, Adani Enterprises canceled a follow -on public offer of Rs 20000 crore. Hindonburg Research published a report on 24 January 2023. In this, Adaani Group was accused of large-scale corporate misconduct and manipulation in share price. After the report came, the shares of all the companies of Adani Group, including Adani Enterprises, declined strongly.
Paytm | The stock saw the biggest decline on its listing day. It fell 27% on November 18, 2021. The stock was listed at less than its IPO price. Its IPO was just 1.89 times.
Indusind Bank | IndusInd Bank shares fell 27 percent on 11 March 2025. The decline came after the disclosure of disturbances in the bank’s derivative portfolio.
Cyient | The stock fell 23 percent on 24 January 2025. The reason for the decline was the company’s its revenue growth and decreasing margin guidance.