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Sell Multi Commodity Exchange of India, target Rs 790: Jay Thakkar

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Jay Thakkar of Anand Rathi has a sell call on Multi Commodity Exchange of India Ltd.

with a target price of Rs 790.

The current market price of Multi Commodity Exchange of India Ltd.

is Rs 820.05.

Time period given by analyst is Intra Day when Multi Commodity Exchange of India Ltd.

price can reach defined target.

Jay Thakkar recommended to keep stoploss at Rs 830.

Multi Commodity Exchange of India Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 4182.12 Crore) operating in Finance sector.

Multi Commodity Exchange of India Ltd.

key Products/Revenue Segments include Fees Other Charges which contributed Rs 238.60 Crore to Sales Value (91.96 % of Total Sales), Other Operating Revenue which contributed Rs 18.19 Crore to Sales Value (7.01 % of Total Sales) and Ware Housing Charges which contributed Rs 2.64 Crore to Sales Value (1.01 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 31-03-2018, the company has reported a Consolidated sales of Rs 70.58 Crore, up 15.76 % from last quarter Sales of Rs 60.97 Crore and up 12.73 % from last year same quarter Sales of Rs 62.61 Crore Company has reported net profit after tax of Rs 34.15 Crore in latest quarter.

The company’s top management includes Dr.M Govinda Rao, Mr.Amit Goela, Mr.Arun Bhargava, Mr.Basant Seth, Mr.Chengalath Jayaram, Mr.Hemang Raja, Mr.Mrugank Madhukar Paranjape, Mr.Parveen Kumar Singhal, Mr.Prithvi Haldea, Mr.Saurabh Chandra, Mr.Shankar Aggarwal, Ms.Madhu Vadera Jayakumar, Ms.Padma Raghunathan.

Company has Shah Gupta Co.

as its auditoRs As on 31-03-2018, the company has a total of 50,998,369 shares outstanding.




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