Bernstein upgrades Indian Energy Exchange to 'Market-Perform'

Bernstein upgraded Indian Energy Exchange to "Market-Perform" from "Underperform" and cut its price target to 110 rupees from 115 rupees. Shares rose 2.8% to 107.85 rupees. Brokerage says market coupling in India's power exchanges appears inevitable, but expects implementation to be delayed to the end of FY28.