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

ICICI Direct is bullish on Multi Commodity Exchange has recommended buy rating on the stock with a target price of Rs 2000 in its research report dated July 27, 2021.

July 29, 2021 / 02:08 PM IST
 
 
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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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first published: Jul 29, 2021 02:08 pm
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