IEX rebounds over 12% after sharp sell-off; Q1 earnings spark partial recovery

Shares of Indian Energy Exchange (IEX) rose sharply on Friday, gaining over 12% in early trade to ₹148.50 on the BSE, rebounding from a 30% crash in the previous session. The surge follows the company’s strong Q1FY26 earnings, reported after market hours on Thursday.

IEX posted a 25% year-on-year increase in consolidated net profit to ₹120 crore, with revenue rising 19% to ₹184.2 crore. Electricity volumes for the quarter rose 15% to 32.4 billion units, while trading in renewable energy certificates surged 149%.

The steep fall on Thursday, marking the stock’s seventh straight session of decline, was triggered by concerns over the Central Electricity Regulatory Commission’s (CERC) decision to implement market coupling from 2026.

Despite the rebound, analysts warn of technical weakness. A close below ₹158 signals a breakdown from IEX’s long-term range, with further downside risk towards ₹112 if the stock fails to recover.

Year-to-date, IEX shares are down 18%, though the stock has delivered a five-year return of 153%.