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Aug 01, 2012, 02.59 PM IST
Multi Commodity Exchange of India gained 2.7% to Rs 1,055.90 after Credit Suisse initiated coverage of the stock with an outperform rating and a target price of Rs 1,450.
Multi Commodity Exchange of India gained 2.7% to Rs 1,055.90 after Credit Suisse initiated coverage of the stock with an outperform rating and a target price of Rs 1,450.
Credit Suisse cited as reasons MCX's 86% market share among domestic commodity exchanges, lower trading penetration in India and attractive valuations versus its regional peers. The brokerage says MCX could "see some upside" after unit MCX-SX was given clearance last month to trade equities, though it adds "we have not considered any at this stage."
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