Multi Commodity Exchange of India (MCX) shares rose nearly 3 percent during the day on December 31. The share saw a high of Rs 11198 on BSE. The important reason for this is that global brokerage firm Morgan Stanley has upgraded the rating for the stock and increased the target price by 66 percent. Morgan Stanley issued a bullish note for MCX shares. The rating for the stock has been raised to ‘equal-weight’.
Whereas the target price has been increased from Rs 6710 per share to Rs 11135 per share. The stock crossed this target in Wednesday’s trading session. The international brokerage said in its note that the average daily transaction revenue of MCX has increased due to the sharp rise in commodity prices in the last 3 months. The brokerage believes that this momentum is not going to end soon.
Morgan Stanley has raised EPS (earnings per share) estimates for MCX by 15 per cent for FY26, 20 per cent for FY27 and 24 per cent for FY28. At current prices the stock is trading at around 50 times FY27 estimated EPS and 47.5 times FY28 estimated earnings. Morgan Stanley said if average daily transaction revenue remains at Rs 10.4 crore over FY27-FY28, the stock will trade at about 35 times its earnings. This is 5 percent more than its long-term average valuation.
in one year mcx share strengthened by 78 percent
The market cap of MCX has reached Rs 56700 crore. The face value of the share is Rs 10. The stock has risen nearly 250 percent in 2 years and 78 percent in one year. It has seen a growth of 43 percent in 3 months. Public shareholders held 99.81 percent stake in the company by the end of September 2025. Of the 12 analysts tracking MCX stock, 6 have given ‘buy’ rating, 5 have given ‘hold’ and one has given ‘sell’ rating. MCX stock is about to split. The record date for this is January 2, 2026. One share of the company with face value of Rs 10 will be broken into 5 shares of face value of Rs 2.
Financial health of the company
In the July-September 2025 quarter, Multi Commodity Exchange of India’s revenue on standalone basis stood at Rs 351.61 crore. Meanwhile, net profit was Rs 156.43 crore. In FY 2025, revenue was recorded at Rs 1011.58 crore and net profit was Rs 414.78 crore.
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