IEX’s power market reign under threat

Planned electricity reforms could deal a body blow to the exchange that commands a near 90% share of the over-the-counter power market.

Last Tuesday, the Indian Energy Exchange stock hit a 52-week low. This was a day after reports surfaced about the Dalmia Bharat Group planning to exit its entire stake in India’s leading power trading platform.

Now, the Dalmias are among the oldest and largest investors in the exchange, holding a near 15% stake. Their plans to exit have more to do with divesting non-strategic investments and focusing on core businesses like cement, but their timing wasn’t exactly opportune.

That’s because the IEX stock has been on a downward trajectory for a while; the shares have lost close to 40% of …


Aakriti Bhalla

Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.