MCX share price: The price of Multi Commodity Exchange of India Ltd (NSE: MCX) share can go up to Rs 8,000. A brokerage firm has expressed this estimate in its recent report.
Along with this, it has given the stock a ‘Buy’ rating. Earlier the brokerage firm’s target price for this stock was Rs 5,000.
According to this new target price, Multi Commodity Exchange of India Ltd shares can rise by about 21% from Monday’s closing level. The brokerage has written in its report that Multi Commodity Exchange of India Ltd’s share has jumped three times in the last year.
The main reason behind this is the improvement in the company’s earnings. This stock has gained 192.13% in the last 52 weeks.
The brokerage firm further said, “MCX’s earnings have been increased by 60% and 75% for the financial years 2025 and 2026”. Despite this, the stock is trading at 40 times its FY26 price-to-earnings multiple.
“We believe Multi Commodity Exchange of India Ltd’s trading community primarily comprises participants from NSE and BSE, so there is a lot of scope for increased participation on MCX,” the brokerage said.
The brokerage said that Multi Commodity Exchange of India Ltd will launch new products from November 11. These products are monthly gold options, weekly index options, and other commodity-linked futures and options segments. This is expected to accelerate its growth going forward.
It also said it expects these launches to accelerate after the new CEO takes over in the coming weeks.
These launches may happen faster with the joining of the company’s new CEO Praveena Rai. Now Praveena Rai is the new MD and CEO of MCX.
Final approval from shareholders is yet to be taken on this appointment. The five-year term of the previous CEO PS Reddy ended in May.
A brokerage firm has raised its earnings estimates by 26% and 30% for MCX for fiscal years 2025 and 2026 respectively.
Multi Commodity Exchange of India Ltd’s net profit rose 38% year-on-year during the September quarter, while it was 22% higher than the previous June quarter.
5 out of 11 analysts covering MCX stock have a “buy” rating on the stock, 4 analysts have a “hold” rating and 2 analysts have a “sell” rating. At 10.30 am, MCX shares were trading 1.64 percent lower at Rs 6,520.55 on the NSE.
Quick Fact
| Company name | Multi Commodity Exchange of India |
|---|---|
| Stock price | 6,464 (2.49%) |
| Target Price (Possible) | ₹8,000 |
| Previous Target Price | ₹5,000 |
| Expected Price Increase from Monday’s Closing | 21% |
| Stock Gain in the Last 52 Weeks | 192.13% |
| Earnings Growth for FY25 | 60% |
| Earnings Growth for FY26 | 75% |
| Price-to-Earnings Multiple for FY26 | 40 times |
| New Products Launch Date | November 11 |
| New Products | Monthly gold options, weekly index options, commodity-linked futures, and options |
| New CEO | Praveena Rai |
| Previous CEO | PS Reddy |
| Previous CEO Term End Date | May |
| Approval Status for New CEO | Pending final shareholder approval |
| Net Profit Growth YoY (Sep Quarter) | 38% |
| Net Profit Growth QoQ (Sep vs June) | 22% |
| Earnings Estimate Raised for FY25 | 26% |
| Earnings Estimate Raised for FY26 | 30% |
| Analysts Rating (Buy) | 5 out of 11 |
| Analysts Rating (Hold) | 4 out of 11 |
| Analysts Rating (Sell) | 2 out of 11 |
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