Latest news with #Matalia
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)
Economic Times
16 hours ago
- Business
- Economic Times
IEX crashes nearly 30% after market coupling nod: Technical analysts see no floor yet
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 2026. ADVERTISEMENT The move has raised fresh concerns about IEX's future market dominance and its core revenue model. Late 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 revenue. While 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 noted. ADVERTISEMENT In 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 term. ADVERTISEMENT Kunal 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.' ADVERTISEMENT 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 crore. ADVERTISEMENT Electricity 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 edge. Also read: IEX Q1 Results: Cons PAT jumps 25% YoY to Rs 120 crore, revenue rises 19% Until clarity emerges on how the new framework will impact exchange dynamics, technical experts believe any recovery may be short-lived. (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
a day ago
- Business
- Time of India
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
Shares of IEX plunged 26% after CERC approved market coupling in the day-ahead segment, threatening its monopoly in price discovery. Analysts advise caution amid oversold signals, regulatory uncertainty, and weak technicals. Key support lies at Rs 120–150. A wait-and-watch approach is recommended for fresh investors. Tired of too many ads? Remove Ads What should investors do now? Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
Economic Times
a day ago
- Business
- Economic Times
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
What should investors do now? Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
Economic Times
4 days ago
- Business
- Economic Times
Cupid shares rally 64% in a week, hit new all-time high of Rs 152. Should you book profits?
Shares of Cupid Ltd rallied 63.7% over the past week to hit a fresh all-time high of Rs 152 on the BSE today, driven by strong technical momentum and rising volumes. The sharp uptrend comes amid consistent buying interest, supported by bullish technical indicators. ADVERTISEMENT Around 10:30 am on Monday, the stock's total traded quantity stood at 6.36 lakh shares, with a turnover of Rs 9.66 crore. The company's market capitalization was at Rs 3,948.84 crore. On Saturday, the company also informed that Aditya Kumar Halwasiya, Chairman and Managing Director of Cupid Ltd, featured in Avendus Wealth - Hurun lndia U30 List 2025. 'Cupid Limited, (BSE – 530843, NSE – CUPID), is delighted to announce that its Chairman & Managing Director, Mr. Aditya Kumar Halwasiya, has been named to the Avendus Wealth – Hurun India U30 List 2025. This prestigious accolade recognizes India's most dynamic young leaders under 30 who are driving innovation, transformation, and sustainable growth in their respective fields,' the company's filing to the stock exchanges to Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research at SBI Securities, 'The price has moved up sharply, having risen nearly 34% in just the last 6 trading sessions. The strong move in the price was supported by a rise in volumes as well.' ADVERTISEMENT He added that the stock is trading above its key short and term long moving averages and the momentum indicators and oscillators are also reinforcing the bullish strength. Shah noted that Rs 115 is likely to act as a strong support level for the stock, while a follow-up move from current levels could push the price towards Rs 180, followed by Rs 200 levels in the short term. ADVERTISEMENT Meanwhile, Hardik Matalia, Derivative Analyst at Choice Broking, observed that the shares of Cupid are currently trading around Rs 146.77, hovering at record high levels after delivering a remarkable rally of nearly 165% from its April 2025 noted that the stock has been consistently forming higher highs and higher lows on the daily timeframe, reinforcing its strong bullish structure. ADVERTISEMENT However, Matalia highlighted that with the Relative Strength Index (RSI) at 85.86, the stock is now firmly in the overbought territory, indicating the possibility of an impending time-wise or price-wise correction in the near further pointed out that the stock is trading well above all its key short-term and long-term moving averages, underlining the prevailing strong momentum, but cautioned that such steep rallies often invite consolidation or retracement, especially when momentum indicators are short-term traders, Matalia suggested it 'would be prudent to book profits at current levels and consider re-entering on meaningful dips near support zones, once signs of stability or reversal emerge.' ADVERTISEMENT He also advised long-term investors already holding the stock to 'consider booking partial profits to lock in gains,' while monitoring for any healthy retracement, which could present an opportunity to accumulate further in a staggered manner. (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)
