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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.
Bernstein upgraded Indian Energy Exchange Ltd. (IEX) shares to 'Market Perform' from 'Underperform' with a price target of ₹110, implying a 5% upside. However, the brokerage firm also cautioned about soft volume growth in the future.