IEX shares rebound 13% after record plunge; stock stays in F&O ban. What should investors do?
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Shares of Indian Energy Exchange (IEX) rebounded sharply on Friday, July 25, surging as much as 12.8% to Rs 149.45 on the BSE, a day after suffering their steepest single-day decline on record. The stock remains under the Futures and Options (F&O) ban even as strong quarterly earnings offered some respite to investors. On Thursday, July 24, IEX shares plunged nearly 30% to a 52-week low after the Central Electricity Regulatory Commission (CERC) approved market coupling, a regulatory change that has long been viewed as a structural threat to the company’s dominance in power trading. The sell-off triggered massive trading volumes, with 12.77 crore shares worth Rs 1,740 crore changing hands, surpassing the combined volumes of all 16 previous trading sessions in July. Over 43.75% of the shares traded on the NSE were marked for delivery, indicating heavy investor churn. Interestingly, activity had intensified in the days leading up to the ...