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Time of India
16 hours ago
- Business
- Time of India
IEX crashes nearly 30% after market coupling nod: Technical analysts see no floor yet
IEX share price plunged nearly 30% on Thursday after CERC approved market coupling, triggering fears over its revenue model and market dominance. Despite strong Q1 earnings, technical analysts see no recovery yet, citing a breakdown below key support levels and extremely oversold momentum indicators. Tired of too many ads? Remove Ads Regulatory Overhang Pressures Sentiment Tired of too many ads? Remove Ads Technical Breakdown Confirms Bearish Shift Q1 Earnings Tired of too many ads? Remove Ads Outlook Shares of Indian Energy Exchange IEX ) crashed 29.5% on Thursday to close at Rs 132.45 on the BSE, marking one of the stock's steepest single-day declines. The sharp fall followed a regulatory order from the Central Electricity Regulatory Commission (CERC), which approved the implementation of market coupling in the day-ahead power market by January move has raised fresh concerns about IEX's future market dominance and its core revenue Wednesday, the CERC said it would initiate market coupling in a phased manner, starting with the Day-Ahead Market (DAM). The mechanism aims to unify price discovery across multiple power exchanges by pooling bids and clearing them centrally, a structural shift that could dilute IEX's competitive edge and impact its transaction charges, which currently form a major part of its the move is expected to improve efficiency and reduce regional price disparities, it threatens the liquidity moat that IEX has built over the called the development 'as bad as it gets' for IEX, cutting its target price to Rs 122 and maintaining a 'Market-Perform' rating. 'With the moat of liquidity gone, the only way to compete is transaction charge,' the firm contrast, UBS retained a 'Buy' call with a target of Rs 285, terming the news a 'negative surprise' but pointing out that the Grid-India report suggested only a 0.01–0.3% impact in terms of savings or volumes cleared. UBS added that the real-time market (RTM), which accounts for 30% of IEX revenue, remains unaffected for analysts see no signs of recovery in the near Kamble, Senior Technical Research Analyst at Bonanza Portfolio, said the stock has broken down from a double top formation with a breakaway gap, confirming a bearish reversal. 'The price has slipped below all major EMAs, and the RSI has plunged to 14 — an extremely oversold condition. The directional movement index (DMI) also confirms strong selling pressure,' he Matalia, Derivative Analyst at Choice Broking, echoed the caution: 'IEX breached key support zones with high volume. RSI at 17.68 shows relentless selling, and unless the price reclaims key averages with volume support, any bounce should be seen as an exit opportunity.'Both analysts advised traders and investors to avoid fresh long positions at current levels and wait for further clarity on the regulatory to the complexity, IEX reported strong Q1 results after market hours on Thursday, July 24. The company posted a 25% year-on-year jump in consolidated net profit to Rs 120 crore for the quarter ended June 2025. Revenue rose 19% to Rs 184.2 volumes grew 14.9% YoY to 32.4 billion units, and Renewable Energy Certificate (REC) trading surged 149.3% to 52.7 lakh units. However, lower power demand, due to early monsoons and unseasonal rains, kept prices subdued in both DAM and RTM Day-Ahead Market saw a 45.2% YoY rise in supply liquidity, driving down average price per unit by 16% to Rs 4.41. In the Real-Time Market, prices fell 20% to Rs 3.91/ the operational beat, the regulatory uncertainty weighed heavier on investor CERC's market coupling framework set to be rolled out over the next 18 months, analysts expect continued volatility in IEX's stock. While the Q1 performance highlights strong fundamentals, the long-term implications of losing pricing control and volume leadership in key market segments are keeping investors on clarity emerges on how the new framework will impact exchange dynamics, technical experts believe any recovery may be short-lived.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
15-07-2025
- Business
- Time of India
JP Power shares slip 5%, halting 3-day rally that added 22%
Shares of Jaiprakash Power Ventures Ltd ( JP Power ) declined on Tuesday, snapping a sharp three-session rally that saw the stock gain 21.7%. The stock fell as much as 4.9% to Rs 25.88 on the BSE, as traders booked profits following a recent surge driven by optimism around group-level developments. The decline follows a sharp three-day upswing, fuelled by heavy volumes and renewed investor interest. On Monday, JP Power rose 4.7% to Rs 24.75, extending a rally that had seen the stock hit a new 52-week high of Rs 24.86 on Friday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Technical indicators also point to a potential cooldown. The stock has been trading above all key simple moving averages, from the 5-day to 200-day marks, while the Relative Strength Index (RSI) has touched an elevated 89.8, a level widely seen as overbought. The Moving Average Convergence Divergence (MACD) remained positive at 2.1, reinforcing near-term bullishness, but analysts had warned of the likelihood of a pullback. Adani bid, resolution buzz fuelled rally Live Events The recent rally was partly driven by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates , a compnay linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, which was later converted into a rupee loan. Jaiprakash Associates is undergoing insolvency proceedings and has reportedly drawn interest from six bidders: Adani, Vedanta, JSPL, Suraksha Group, Dalmia Bharat and PNC Infratech. The proposals are believed to be for acquiring the company in full, raising hopes of clarity on liabilities that could benefit JP Power. Also read | HCLTech shares in focus after Q1 profit drops 10% YoY to Rs 3,843 crore Analyst view: Resistance ahead, accumulation evident Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, had earlier said that JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer interest. Kamble had noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside momentum. 'The stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength,' Kamble added, pointing to strong accumulation. He projected fresh entry potential above Rs 24, with a stop-loss at Rs 17, and sees possible medium-term upside to Rs 38–45 if momentum persists. Despite Tuesday's decline, the stock remains up 42.5% in 2025 so far and has delivered a 1364% return over the past five years. The stock is up 46% in 2025 so far. Also read | JP Power shares rally 7% in one week. Should you buy, sell or hold? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
15-07-2025
- Business
- Economic Times
JP Power shares slip 5%, halting 3-day rally that added 22%
Shares of Jaiprakash Power Ventures Ltd (JP Power) declined on Tuesday, snapping a sharp three-session rally that saw the stock gain 21.7%. The stock fell as much as 4.9% to Rs 25.88 on the BSE, as traders booked profits following a recent surge driven by optimism around group-level developments. ADVERTISEMENT The decline follows a sharp three-day upswing, fuelled by heavy volumes and renewed investor interest. On Monday, JP Power rose 4.7% to Rs 24.75, extending a rally that had seen the stock hit a new 52-week high of Rs 24.86 on Friday. Technical indicators also point to a potential cooldown. The stock has been trading above all key simple moving averages, from the 5-day to 200-day marks, while the Relative Strength Index (RSI) has touched an elevated 89.8, a level widely seen as overbought. The Moving Average Convergence Divergence (MACD) remained positive at 2.1, reinforcing near-term bullishness, but analysts had warned of the likelihood of a pullback. The recent rally was partly driven by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates, a compnay linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, which was later converted into a rupee loan. ADVERTISEMENT Jaiprakash Associates is undergoing insolvency proceedings and has reportedly drawn interest from six bidders: Adani, Vedanta, JSPL, Suraksha Group, Dalmia Bharat and PNC Infratech. The proposals are believed to be for acquiring the company in full, raising hopes of clarity on liabilities that could benefit JP read | HCLTech shares in focus after Q1 profit drops 10% YoY to Rs 3,843 crore ADVERTISEMENT Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, had earlier said that JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer had noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside momentum. ADVERTISEMENT 'The stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength,' Kamble added, pointing to strong accumulation. He projected fresh entry potential above Rs 24, with a stop-loss at Rs 17, and sees possible medium-term upside to Rs 38–45 if momentum Tuesday's decline, the stock remains up 42.5% in 2025 so far and has delivered a 1364% return over the past five years. The stock is up 46% in 2025 so far. Also read | JP Power shares rally 7% in one week. Should you buy, sell or hold? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
14-07-2025
- Time of India
Four accused in rape and abetment of suicide of schoolgirl sent to magisterial custody
Kolhapur: A Sangli court sent four accused of allegedly raping and abetting the suicide of a 16-year-old girl to 14 days' magisterial custody after their five-day police custody ended on Monday. The girl committed suicide in the early hours of Monday last week. Her father lodged a complaint that evening, alleging that four from the village were harassing her while she was on her way to school. He said they raped her and recorded the incident. She was threatened with the video being made public if she refused further sexual relations. A senior police official in Sangli said, "We have gathered all technical evidence, including digital video recorder of CCTV cameras. The technical evidence will be sent to a Kolhapur-based forensic laboratory. We asked for magisterial custody, requesting the right to obtain police custody whenever required." Police said a preliminary examination of the victim's cell phone revealed that the suspects were repeatedly calling her until 11.30 pm on Sunday, prompting the girl to switch off her mobile phone. All the suspects are in the 20-24 years age group. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cách giao dịch ETH/USD mà không cần nắm giữ Ether IC Markets Tìm hiểu thêm Undo One of them runs a bakery in the village, another works in the bakery, one is a farmer, and the fourth runs a garage, Kamble said. A case of offences punishable under sections 64 (2) (m) (raping the same woman repeatedly), 74 (outraging the modesty of a woman), and 78 (stalking and attempting to contact a woman despite rejection) of the Bharatiya Nyaya Sanhita and sections 4 and 6 (both related to sexual assault) and 12 (sexual harassment) of the Protection of Children from Sexual Offences (POSCO) Act has been registered in this connection.
Time of India
14-07-2025
- Business
- Time of India
JP Power shares rally 7% in one week. Should you buy, sell or hold?
Shares of Jaiprakash Power Ventures Ltd ( JP Power ) surged as much as 4.7% on Monday to hit Rs 24.75 on the NSE, extending a sharp rally that has seen the stock rise more than 7% over the past week. The fresh upswing comes on the heels of a new 52-week high of Rs 24.86, recorded on Friday, July 11. The power and infrastructure stock has been on a tear this year, gaining 34.3% in 2025 so far and up 31.5% over the last 12 months. Longer-term returns are even more staggering, with the stock rising 302.2% in the past two years and delivering an eye-watering 1183% return over the last five years. Bullish charts, overbought signals From a technical perspective, JP Power is currently trading above all its eight key simple moving averages (SMAs), spanning the 5-day to 200-day markers, suggesting robust bullish sentiment across timeframes. Momentum indicators also point to sustained strength. The Relative Strength Index (RSI) stands at an elevated 84.3, a level widely viewed as strongly overbought, which implies that stock may show pullback in the near term. At the same time, the Moving Average Convergence Divergence (MACD) is at 1.7, comfortably above both the signal and center lines, reinforcing the prevailing uptrend. Adani buzz and resolution hopes The rally last week was largely sparked by reports that the Adani Group had submitted a bid to acquire the debt-laden Jaiprakash Associates, a company linked to JP Power via a corporate guarantee on a $150 million external commercial borrowing, later converted into a rupee loan. JP Associates is undergoing insolvency resolution, and has reportedly attracted six bidders: Adani, Vedanta, JSPL, Suraksha Group, Dalmia Bharat, and PNC Infratech. The proposals are understood to be for acquiring the company in full. The strategic implications of the resolution process have brought JP Power into sharp focus, fueling both price and volume action in recent sessions. Analyst view: Key levels and caution According to Kunal Kamble, Sr. Technical Research Analyst at Bonanza Portfolio, JP Power has broken out of a 17-month consolidation zone, supported by rising volume that reflects increased buyer interest. Kamble noted that the stock is nearing a crucial resistance at Rs 24, and a decisive close above this level could unlock stronger upside momentum. The stock's position above key exponential moving averages reflects bullish sentiment, with the recovering monthly RSI indicating renewed strength, Kamble noted, adding that the overall setup suggests strong accumulation. From a trading perspective, he sees scope for fresh entries above Rs 24, with a stop-loss at Rs 17. If momentum holds, the stock could potentially climb to the Rs 38–45 range over the medium term. Also read | Sensex falls over 300 pts, Nifty below 25,100 on weakness in IT and financial stocks ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
