This small-cap stock gains up to 4% after the implementation of Commodity Derivative Platform. On the same day, the stock reached to a new 52-week high at Rs. 2,183.85. The stock has delivered 48% returns in six months and 66% returns in one year.
Multi Commodity Exchange of India Ltd (MCX) the company has a market capitalisation of Rs. 11,066 Cr making it a small-cap company. On Wednesday the company shares rose up to 4% and currently trading 3.4% up at Rs. 2,170 on BSE.
According to the BSE filing, MCX has vide Circular no: MCX/TECH/694/2023 dated October 10, 2023, informed its members that the exchange proposes to go live with the new Commodity Derivatives Platform with effect from Monday, October 16, 2023.
As per the company filing, total revenues grew by 40.7% from Rs. 118.05 Cr in Q1 FY23 to Rs. 166.21 Cr in Q1 FY24 and the company’s net profit declined by 52% from Rs. 41.4 Cr in Q1 FY23 to Rs. 19.6 Cr in Q1 FY24.
As per the latest shareholding information, DIIs hold 55.06%, FIIs hold 24.84% and the public hold a 20.10% stake in the company.
The Multi Commodity Exchange of India Limited (MCX), India’s first listed exchange, is a cutting-edge commodity derivatives exchange that supports online commodity derivatives trading, offering a platform for price discovery and risk management. As of 30 June 2023, the Exchange had 556 registered members and 47,573 Authorized Persons, with a presence in around 706 cities and towns across India.
Written by Sheshadri N
