Indian Energy Exchange (IEX) share price crashed by nearly 7% to ₹139.80 apiece in Friday’s trading session after the exchange sought clarification regarding the launch of gas futures, and amid the hearing by the Electricity Appellate Tribunal (APTEL) on market coupling norms.
IEX shares opened higher on January 9 and climbed to an intraday peak of ₹159.80, but later pared all gains and dropped more than 11% from intraday high levels.
IGX in talks to launch gas futures on market derivatives
BSE sought clarification from the company regarding a report titled NSE, IGX in talks to launch India’s first natural gas futures contract. In response, IEX dismissed the reports about the company being in talks with IGX, saying that NSE and IGX are in talks to develop and launch an Indian Natural Gas Futures contract.
“We would like to clarify that the News Article is based on information reportedly stated by the National Stock Exchange of India Limited (NSE). To the extent the article makes any reference to India Gas Exchange Limited (IGX), it is informed that IGX is only an associate company of Indian Energy Exchange Limited (‘IEX’/ ‘Company’), and in the News Article, there is no reference to IEX,” the company said in the filing.
It further added, “This is to further clarify that IGX is a separate legal entity with its own independent management and Board of Directors, and the Company does not have any role in the day-to-day operations and management of IGX. Accordingly, the Company is not aware of any such development as reported in the News Article and is not in a position to comment on the same.”
APTEL decides new date for hearing of the market coupling case
Additionally, amid the ongoing hearing on the market coupling case, the APTEL has scheduled January 19 as the next hearing date.
Ahead of the hearing, the CERC released a circular clarifying that the July 2025 issuance should be regarded as a “direction” rather than an “order.
During the opening of the hearing, APTEL sought an explanation from the CERC regarding the withdrawal of the market coupling order. In response, CERC’s counsel requested additional time to clarify the matter, the CNBC-TV18 report said.
APTEL remarked that the regulator must function independently and rise above any uncertainty. The tribunal further noted that it would initiate an enquiry if it found any irregularities within the regulator or if corrective actions had been taken to address such issues, as per the report.
IEX informed APTEL that the CERC has issued a corrigendum converting the coupling order into a formal direction, and remarked that it is unusual for an order to be applied retrospectively while the matter is still under consideration.
IEX shares are listed on both BSE and NSE. The stock touched a 52-week high of ₹215.40 apiece on June 9, 2025, and a 52-week low of ₹130.35 on August 7, 2025.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
