IEX Shares Tumble as Government Clarifies Stance on Market Coupling

• Indian Energy Exchange (IEX) shares fell after the Union Power Minister reiterated the government's unchanged stance on market coupling.
• The Electricity Appellate Tribunal (APTEL) is hearing IEX's petition against CERC's July 2025 directive on market coupling in the Day-Ahead Market (DAM).
• IEX argues CERC's directive is arbitrary, violates natural justice, and will cause market share loss, not benefits.
• CERC previously indicated willingness to withdraw the directive, but later clarified it as a 'direction' not an 'order'.
• IEX linked the directive to alleged insider trading by CERC officials, citing a SEBI report, and claimed it was part of a conspiracy.

Why It Matters: IEX shares dropped amid a government statement and an ongoing legal battle over market coupling.