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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Planned electricity reforms could deal a body blow to the exchange that commands a near 90% share of the over-the-counter power market.
Editor's note: 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 their value in the last one year. The reports on the group’s exit plans only served to hasten the slide in share prices. This stands in sharp contrast to the electrifying run two years ago, when the IEX stock, riding on the company’s near 90% share of the power exchange market, rose over 300% between October 2020 and October 2021. Clearly, there’s more that’s spooking IEX’s investors. Foreign and domestic institutional investors have pared their positions in the last two …
India's largest, most dominant power exchange is staring at market share and earnings loss after a key decision by the electricity regulator. Shareholders are not happy. Separately, a big win for climate litigation globally.
India's largest power exchange has seen off a regulatory scare to win back investors. Now its long-standing CMD is looking for his last hurrah.
The government has been keen to rein in the monopoly of the leading power exchange. Its latest salvo has rattled the stock. Separately, Zee’s Punit Goenka is in SEBI’s cross hairs.
