INSUBCONTINENT EXCLUSIVE:
SBICAP Securities has maintained buy rating on Multi Commodity Exchange of India in the long term and revised target price to Rs 1,330 from
hares of MCX ended up 6.7% at Rs 1288.70 on Tuesday while BSE Sensex closed 192.84 points (0.47%) up at 40,869.47.
Company FinancialsFor the
quarter ended 30-09-2019, the company has reported consolidated sales of Rs 100.15 crore, up 26.05% from last quarter sales of Rs 79.45
crore and up 40.86% from last year same quarter sales of Rs 71.10 crore
The company has reported net profit after tax of Rs 72.04 crore in the latest quarter
The company’s top management includes Dr.Bhartendu Kumar Gairola, Dr.Deepali Pant Joshi, Mr.Amit Goela, Mr.Basant Seth, Mr.Chengalath
Jayaram, Mr.Hemang Raja, Mr.P S Reddy, Mr.Saurabh Chandra, Mr.Shankar Aggarwal, Ms.Madhu Vadera Jayakumar, Ms.Padma Raghunathan, Ms.Pravin
Company has Shah Gupta - Co
As on 30-09-2019, the company has a total of 50,998,369 shares outstanding
Investment RationaleMCX is poised for strong growth in activity due to 1) impending institutional participation catalyzed by resolution of
custodian-related issues, 2) increasing depth due to participation of hedgers, 3) introduction of new contracts, and 4) growth in trading of
The brokerage said it may have to revise its estimates upwards if there is greater institutional participation.
