Regulatory tailwinds to boost growth for MCX, says HDFC Securities; retains Buy for 18% gains
HDFC Securities retained its Buy rating on MCX with a Rs 3,600 target, citing regulatory easing, FPI participation and new bullion and metals index options. The brokerage expects these changes to boost options premiums, volumes and earnings while improving capital efficiency.
Brokerage firm HDFC Securities has maintained its 'Buy' rating on Multi Commodity Exchange of India (MCX), highlighting that regulatory reforms could potentially boost the exchange's growth and earnings trajectory. The brokerage firm predicts that foreign institutional investors (FIIs) and new bullion and metals index options could fuel the next phase of expansion, with an expected rise of 20-25% in options premiums.
HDFC Securities has set a target price of Rs 3,600 per MCX share, projecting an 18.42% upside from its August 18 closing price of Rs 3,040 per share on the NSE.
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