My two cents..
I may be wrong..i dont own stock.just.tracking..
No promoter
No Skin in the game.
In a war against a regulator,it s the regulator who wins mostly.
So risk reward of this scrip in not favourable to retail share holders.
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while there was significant FII dumping during the crash, one known FII actually increased its stake significantly (Indian Energy Exchange Ltd share price | About Indian Energy Ex | Key Insights - Screener) :
(Disc : not invested but interested)
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That’s an attempt to oversimplify things. In such businesses there are generally no promoters due to regulations but that does not necessarily mean business can’t do well.
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I dont know much about this market coupling issue and still trying to understand.
But earlier IGL has won the battle twice in HC and SC against regulator in 2015. IGL got hammered by 40% in 2012 due to this regulatory intervention and recovered the lost mkt cap only after 2 years in 2014. Now stock is 9X in 11 yrs.
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Another instance (involving IEX) where the final verdict went against regulator.
Disc: IEX is part of my portfolio
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So far I understand that the CEO called the unfavorable CERC decision ‘surprising’- which usually means that IEX is very likely to challenge the order even though the CERC will predictably use the ‘monopoly’ and ‘fairness’ argument in its defence.
Or probably IEX management is in wait and watch mode and would consider legal action strategically only subject to actual order implementation, which most people believe would get delayed?
That said, can someone share any update if IEX has either already taken action to challenge the CERC order or is planning to do so?
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