Indian Energy Exchange falls on report of govt's market coupling plan

Indian Energy Exchange

24/09/2024 10:04

(Updates with report on government's market coupling plan)
    * Indian Energy Exchange Ltd  IIAN.NS  down as much as 13%
to 209.05 rupees
    * ET Now reports that India government plans to implement
market coupling in power exchanges, citing sources 
        * Market coupling is an economic model used in energy
markets to create a single, uniform price for electricity across
different trading platforms or exchanges
  
        * Report says market coupling is anticipated to hit the
market dominance of IIAN
  
    * 2 mln shares traded in 6 block deals, at a discount
between 3.4% to 6.9% to Monday's close, LSEG data shows
    * Overall 101 mln shares traded, 6.7X 30-day avg 
    * Co top pct loser in NIFTY 500 index  .NIFTY500 
    * IIAN up ~32% YTD vs ~25% gains in NIFTY500 

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))