MCX - On A Strong Footing; Maintain Buy: HDFC Securities

HDFC Securities Institutional Equities

Multi Commodity Exchange of India Ltd. is up ~13/28% in the last one month/six month versus BSE, which is down -12/+3% in the last one month/six months.

The rising volumes, stable tech platform, and the option value linked to the launch of new products are resulting in outperformance versus peers. The stock has traded at an average one-year forward price/earning of ~33 times and is currently trading at a P/E of 41/31 times FY25/26E EPS.

We expect further rerating with the announcement of the new Managing Director and Chief Executive Officer and more clarity on the timeline of new product launches.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.