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MCX (Multi Commodity Exchange of India) shares lit up the screens on Monday (June 9, 2025), surging nearly 7 per cent intraday and hitting an all-time high of Rs 7,970. The spark? SEBI’s go-ahead for electricity derivatives—the first of its kind in India.
It’s a big regulatory milestone. But with the stock already up over 65 per cent in the past three months, investors must now ask: How much upside is left?
What’s driving the rally?
The big trigger is SEBI’s approval to launch electricity derivatives. For the first time, market players will be able to hedge power prices on a regulated platform.
This opens up a whole new segment, especially as India’s energy sector becomes increasingly volatile with the addition of renewables.
Pair this with MCX’s strong Q4 numbers and the bulls had all the reason to cheer.
Numbers that matter
| Metric | Q4 FY25 | Q4 FY24 | YoY change |
|---|---|---|---|
| Revenue | Rs 320 crore | Rs 199 crore | 61 per cent |
| Net profit | Rs 135 crore | Rs 88 crore | 54 per cent |
| Dividend announced | Rs 30 per share | — | — |
About the company
Multi Commodity Exchange (MCX) is India’s largest commodity derivatives exchange. It dominates trade in gold, silver, crude, and base metals. It also generates a significant portion of its revenue from trading fees, clearing charges and data services.
What should investors keep in mind?
- Growth story is intact. MCX is now the only player in electricity futures—a market with real potential as India electrifies.
- Rich valuations. The stock trades at a P/E of over 70. Much of the excitement may already be in the price.
- SEBI fine a reminder. Recently, the exchange was fined Rs 25 lakh for not fully disclosing issues in its new trading platform rollout.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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