Mumbai: Shares of Multi Commodity Exchange of India (MCX) surged to a lifetime high on Wednesday after brokerage UBS raised its price target on the stock to ₹10,000 from ₹7,000, citing a strong volume outlook, new product launches, and favourable market dynamics.
The revised price target implies an upside potential of 15.3% from Wednesday’s close of ₹8,675. MCX shares ended 5.6% higher. UBS has maintained a ‘Buy’ rating on the stock.
Agencies
UBS said average daily trading volumes of key commodities are expected to stay strong despite geopolitical uncertainty. It said upcoming product additions – such as electricity derivatives, monthly bullion contracts, and index options – may further support near- to medium-term growth.
