The shares of MCX Limited reached a fresh 52-week low of ₹ 1150.00 apiece on Thursday. This was led by a heavy sell-off by FIIs, following global cues like rising interest rates and the geopolitical crisis. Major central banks have increased the rates, thereby leading to a selling spree in the stock markets on a global level.
On April 18, 2022, HDFC Securities gave a buy call on the shares of the Multi Commodity Exchange of India with a target price of Rs 2050. The shares are trading at ₹1155.00 levels, therefore, this translates to an upside of 77.48% within a time span of one year.
The Multi Commodity Exchange of India(MCX) is India’s first listed stock exchange. It is a commodity derivatives exchange that facilitates the online trading of commodity derivatives transactions. It operates under the regulatory framework of the Securities and Exchange Board of India (SEBI).
The MCX practically has a monopoly with a 96.48% share in the commodity derivatives market. It controls 100% share of Precious metals & stones, Energy & base metals. However, it commands a share of only 22.2% in the agri-commodities sector. It has an extensive pan-India reach with over 56,000 authorized persons, 650 members, 51,00,000 unique client codes and a presence in more than a thousand cities and towns across India.
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
