IEX shares fall another 4% to hit a low of Rs 144.6 on the NSE after a circular dated February 6 states that CERC provides enabling provisions to implement market coupling of power exchanges. This has been an overhang for IEX stock as the company is likely to lose its edge in the market. The CERC in the order has stated that it is necessary for companies to get a necessary software developed in next 2 months to run a shadow pilot for market coupling.
The software, CERC says, will be used to run shadow pilot for market coupling of three exchanges. Furthermore, power exchanges will need to share data and info for shadow pilot. Analysts believe that it will be important to watch out on how this pans out.
