Description
BSE seeks clarifications from companies regarding news articles published on January 09, 2026, including Indian Energy Exchange Limited's response about APTEL hearing on market coupling order.
Summary
BSE issued a circular containing clarifications received from companies regarding news articles published in media on January 09, 2026. The circular specifically includes Indian Energy Exchange Limited’s response to BSE’s query about a Moneycontrol news article titled “IEX shares recover 7% from day’s low as CERC seeks more time on withdrawal of coupling order”. IEX clarified that the article refers to a hearing held on January 09, 2026 before the Appellate Tribunal for Electricity (APTEL) regarding the company’s petition challenging CERC’s Suo-Motu Order dated July 23, 2025 on market coupling implementation.
Key Points
- BSE sought clarifications from Indian Energy Exchange Limited regarding news article about share price recovery
- IEX shares reportedly recovered 7% from day’s low following developments in APTEL hearing
- The hearing relates to IEX’s petition challenging CERC’s Suo-Motu Order dated July 23, 2025 on market coupling
- CERC issued a Corrigendum to its Suo-Motu Order on January 08, 2026, which was disclosed to exchanges on January 09, 2026
- IEX confirmed no undisclosed information exists that could explain the trading movement
- The matter remains sub judice with no order passed by APTEL at this stage
- Company stated price movement appears market-driven based on publicly available information from APTEL hearing
Regulatory Changes
No new regulatory changes introduced. This circular documents company responses to exchange queries under existing disclosure requirements per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Compliance Requirements
- Companies must respond to BSE queries regarding news articles that may impact stock price movements
- Companies must confirm whether they are aware of any undisclosed information explaining trading movements
- Companies must provide information on initiation/outcome of regulatory/legal proceedings
- Companies must make timely, accurate disclosures of material regulatory developments to stock exchanges
- Responses must address: (a) whether negotiations/proceedings are taking place with chronological sequence, (b) awareness of undisclosed information, and (c) status of regulatory/legal proceedings
Important Dates
- July 23, 2025: CERC issued original Suo-Motu Order on market coupling implementation
- January 08, 2026: CERC issued Corrigendum to the Suo-Motu Order
- January 09, 2026: APTEL hearing held; news article published; IEX disclosed Corrigendum to exchanges; BSE sought clarifications; IEX provided response
Impact Assessment
Market Impact: Medium - The circular reflects BSE’s surveillance mechanism to ensure transparency regarding news-driven price movements. IEX shares experienced volatility with 7% recovery following APTEL hearing developments, indicating market sensitivity to regulatory proceedings related to market coupling.
Company Impact: Medium - Indian Energy Exchange Limited is involved in ongoing legal proceedings before APTEL challenging CERC’s market coupling order. The outcome could have significant implications for IEX’s business operations. The company must maintain vigilant disclosure practices while the matter remains sub judice.
Investor Impact: Medium - Provides clarity that the share price movement was based on publicly available information from court proceedings rather than undisclosed material developments. Investors should monitor further developments in the APTEL proceedings for potential material impacts on IEX.
Regulatory Significance: This circular demonstrates the exchange’s proactive surveillance and query mechanism to ensure companies comply with disclosure requirements and clarify news-related price movements, maintaining market integrity.
Impact Justification
Routine clarification circular regarding news articles and price movements. Contains company responses to exchange queries about market coupling proceedings before APTEL.