Stocks

MCX shares rally 18% ahead of board meet

Our Bureau Mumbai | Updated on May 29, 2020 Published on May 29, 2020

The share price of Multi Commodity Exchange (MCX) has witnessed more than 18 per cent rise in just four trading sessions ahead of its board meeting on Saturday. The share price rose by 6 per cent or ₹76 to close at ₹1,341 on Friday.

MCX is India’s largest commodity exchange and its share price is now trading just 6 per cent below its all time high levels of ₹1,443. It is among the few stocks that its trading at its life time high levels even while many other stocks are just about recovering from their worst fall in March. MCX derives its key income from transaction charges generated via trading of commodity derivatives on its platform.

Crude oil, bullion and metal are among the largest traded contracts on its platform. This apart, the exchange has a major part of its income coming from its treasury holdings of around ₹1,600 crore. It is likely that MCX may announce dividend payout after its board meeting on Saturday, sources said.

Published on May 29, 2020
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