Buy Multi Commodity Exchange; target of Rs 2000: ICICI Direct

ICICI Direct's research report on Multi Commodity Exchange

MCX is the leader in commodity derivatives exchanges in India with ~94% market share in terms of commodity futures turnover. It has 100%+ market share in precious & base metals and energy Presence in various commodities offers healthy diversification

Outlook

Being a beneficiary of increase in commodities volume, we retain our BUY rating on the stock We value MCX at ~45x core FY23E EPS and net cash and maintain target price of Rs 2000.

For all recommendations report, click here

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