Here’s why shares of IEX surged over 5% on Wednesday

Shares of the Indian Energy Exchange (IEX) Ltd. surged as much as 5% on Wednesday, July 9, government sources told CNBC-TV18 that the market coupling reform, is not in itself, a big ticket reform for the power sector.The sources further added that the Grid Controller’s report, which was submitted to the Central Energy Regulatory Commission (CERC), is currently under review, and that the government can further look at expanding the energy derivatives market in the future.

Last month, shares of IEX had tanked after CNBC-TV18

had reported citing sources that Power Minister Manohar Lal may conduct consultations with stakeholders on the market coupling issue to apprise them about the benefits of such a move.
On February 21 this year, Power Secretary Pankaj Agarwal had indicated that the Ministry and the Central Electricity Regulatory Commission (CERC) are reviewing the Grid Controller of India’s report on market coupling.A government official had told CNBC-TV18 on September 25 last year, that market coupling of power exchanges was on the cards. While the official had said that market coupling will eventually happen, he had refused to ascribe any timeline for the implementation.

Out of the 13 analysts that have coverage on IEX, eight of them have a “buy” rating on the stock, three say “hold”, while two have a “sell” rating on the stock.

Shares of IEX are currently trading 4% higher at ₹209.2. The stock has risen 17% so far in 2025.