Shares of the Indian Energy Exchange Ltd (IEX) halted the downward journey on Monday, rising 1.63 per cent or Rs 2 to Rs 124.25 apiece in the opening trade. Its shares had fallen 17 per cent in the past two sessions after the power ministry directed the Central Electricity Regulatory Commission (CERC) to initiate the process of coupling multiple power exchanges in a timely manner.
Currently, India has three power exchanges — Indian Electricity Exchange (IEX), Power Exchange of India (PXIL) and Hindustan Power Exchange (HPX). The power ministry has asked the CERC to initiate the process of coupling multiple power exchanges, a mechanism which seeks to ensure uniformity in the price discovery of energy at trading platforms.
In the previous session on Friday, the IEX stock closed at Rs 122.60 against the close of Rs 136.50 on June 7. In the past one week since June 5, IEX has lost 18.3 per cent.
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