Multi Commodity Exchange of India Ltd Hits All-Time High at Rs 2304.95

Strong Momentum Drives Record High

On the day of this record, MCX outperformed its sector by 2.84%, closing with a day change of 2.74%, while the Sensex declined marginally by 0.09%. The stock has been on an upward trajectory for the past two consecutive days, delivering a cumulative return of 4.86% during this period. Intraday, the stock touched a high of Rs 2304.95, representing a 2.52% increase from its previous close.

MCX’s price currently trades above all key moving averages – 5-day, 20-day, 50-day, 100-day, and 200-day – signalling strong technical support and sustained buying interest. This technical strength complements the company’s fundamental performance, reinforcing the stock’s upward momentum.

Exceptional Long-Term Performance Against Benchmarks

MCX’s performance over various time horizons has been remarkable when compared to the broader market. Over the last one year, the stock has surged by 92.60%, vastly outperforming the Sensex’s 8.68% gain. The three-year return stands at an impressive 699.92%, dwarfing the Sensex’s 41.88% over the same period. Even over a decade, MCX has delivered a staggering 1199.07% return, compared to the Sensex’s 241.97%.

Shorter-term returns also highlight the stock’s strength: a 3-month gain of 40.79% versus Sensex’s 3.73%, and a 1-month return of 11.68% against the Sensex’s negative 0.85%. Year-to-date, MCX has posted a 3.70% gain while the Sensex has declined by 0.28%. These figures underscore the stock’s consistent outperformance across multiple time frames.

Robust Financial Fundamentals Underpinning Growth

MCX’s fundamental strength is reflected in its solid financial metrics. The company maintains a strong long-term Return on Equity (ROE) averaging 16.92%, indicating efficient utilisation of shareholder capital. Operating profit has grown at an annual rate of 26.29%, demonstrating healthy expansion in core earnings.

Net sales growth, while modest at 0.27%, has been accompanied by very positive quarterly results, with the company declaring positive outcomes for seven consecutive quarters. The latest quarterly figures include operating cash flow at a peak of Rs 950.13 crores, net sales reaching Rs 374.23 crores, and PBDIT hitting Rs 243.63 crores – all record highs for the company.

Institutional investors hold a significant 79.51% stake in MCX, reflecting confidence from entities with extensive analytical resources and a long-term investment horizon. This high institutional holding often correlates with stability and informed market participation.

Valuation and Risk Considerations

Despite its strong growth, MCX carries a valuation that is considered very expensive by some measures. The company’s ROE stands at 33.4, with a Price to Book Value ratio of 27.5, indicating a premium valuation relative to book value. However, the stock trades at a fair value when compared to its peers’ historical averages.

Over the past year, profits have risen by 100.6%, outpacing the stock’s 92.60% return, resulting in a PEG ratio of 0.8. This suggests that the stock’s price growth is reasonably aligned with earnings growth, providing a balanced perspective on valuation.

Market Capitalisation and Mojo Ratings

MCX holds a Market Cap Grade of 2, reflecting its mid-cap status within the capital markets sector. The company’s Mojo Score currently stands at 77.0, with a Mojo Grade of Buy as of 18 Nov 2025, following a downgrade from Strong Buy. This adjustment reflects a recalibration of expectations while maintaining a positive stance on the stock’s fundamentals and market position.

Sector and Industry Context

Operating within the capital markets sector, MCX has demonstrated resilience and growth that outpaces many peers. Its consistent delivery of positive quarterly results and strong financial metrics position it as a notable player in the industry. The stock’s ability to maintain gains above all major moving averages further highlights its technical robustness within the sector.

MCX’s market cap grade and Mojo ratings provide additional context for investors analysing the stock’s relative standing. The company’s performance metrics and valuation multiples offer a comprehensive picture of its current market position.

Summary of Key Performance Metrics

To summarise, MCX’s key metrics as of 7 Jan 2026 include:

• New 52-week high price: Rs 2304.95


• Day’s high intraday gain: 2.52%


• Consecutive gains over 2 days: 4.86%


• One-year return: 92.60%


• Three-year return: 699.92%


• Ten-year return: 1199.07%


• Operating cash flow (annual): Rs 950.13 crores (highest)


• Net sales (quarterly): Rs 374.23 crores (highest)


• PBDIT (quarterly): Rs 243.63 crores (highest)


• Institutional holdings: 79.51%


• Mojo Score: 77.0 (Buy)


• Market Cap Grade: 2

These figures collectively illustrate the company’s strong market position and financial health, culminating in the stock’s historic peak.

Conclusion

Multi Commodity Exchange of India Ltd’s attainment of an all-time high price of Rs 2304.95 marks a significant milestone in its market journey. Supported by robust fundamentals, consistent quarterly performance, and strong institutional backing, the stock has demonstrated exceptional growth and resilience. While valuation metrics indicate a premium, the company’s earnings growth and technical strength provide a comprehensive view of its current standing within the capital markets sector.

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