The shares of Multi Commodity Exchange of India (MCX) gained more than 5 percent on August 4 after the company’s Q1 earnings and stock split announcement boosted investor sentiment. The sharp rise in the share price rippled down to the other capital market stocks as well, pushing the sectoral index higher nearly 2 percent.
The Nifty Capital Markets index hit an intraday high of nearly 4,380 in the morning. MCX led the gains, while CDSL, Aditya Birla Sun Life AMC, CAMS and Anand Rathi Wealth Management shares followed, rising up to 3 percent.
MCX on August 1 reported a net profit of Rs 203 crore for the April-June quarter of the financial year 2026. This marks a 83 percent on-year jump from the Rs 111 crore net profit reported in the corresponding quarter of the previous financial year.
The firm’s revenue from operations meanwhile grew 59 percent on-year to Rs 373 crore in Q1 FY26. It had earlier reported revenue from operations at Rs 234 crore in Q1 FY25. EBITDA meanwhile increased to Rs 274 crore during the quarter under review.
Along with the Q1 results, MCX also announced a stock split in the ratio of 1:5 for its eligible shareholders. This means that every single share owned by the shareholder as on the record date will be split into 5 equity shares. The company said that the move was aimed at enhancing stock affordability, making it more accessible to retail investors.
"To enhance stock affordability, making it more accessible to retail investors, MCX Board approved stock split of 1:5 ratio, i.e. face value of Rs. 10 per share reduced to Rs. 2 per share fully paid up, subject to statutory and regulatory approvals as applicable, and approval of shareholders of the company," the firm said.
Morgan Stanley however kept an ‘underweight’ call on the stock, with a target price of Rs 5,750 per share. This implies a downside potential of more than 24 percent from the stock’s previous closing price of Rs 7,594 apiece. The international brokerage said that while the firm’s Q1 profit after tax beat estimates by 4 percent, it remains cautious due to the stock’s high valuation and revenue concentration.
MCX shares are currently trading at Rs 7,994.50 apiece on NSE. The stock has lost nearly 10 percent in the past one month, but gained more than 36 percent in the past six months.
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