The fourteenth trading session of ESCerts took place today.
In total, there was a demand for 365,980 ESCerts, a decrease of nearly 50% from last week. This demand was against a total supply of 1,094,568 ESCerts (increase of 31.68% since last week). Market clearing price was determined at Rs 899/ ESCert (the price determined last week was Rs 1,000 per ESCert), with 2,20,791 ESCerts sold (value traded decreased by 55.87%; the total traded value was Rs 19.85 crore).
This was the last trading session for compliance under PAT cycle I. In total 10.85 lakh ESCerts have been purchased till date, compared to an estimated demand of about 14.25 lakhs ESCerts. The following graph illustrates the total demand as compared to the total ESCerts traded.
Companies that have failed to purchased ESCerts in compliance with their PAT Cycle I requirements will be required to now pay penalty at the rate of Rs 10,968. It will be upto BEE to levy and collect the penalty.
Based on the experience so far in the RPO markets, there are hardly any instances of imposition of penalty. However, if the BEE extends the deadline or fails to impose the penalty in a timely manner, it will set a very poor precedent for PAT Cycle II.