Stock Performance and Market Context
On the day of this milestone, MCX outperformed its sector by 3.56%, closing with a notable 5.24% gain. The stock opened with a gap up of 2.19% and touched an intraday high of Rs.2604.95, marking a 7.55% rise from its previous close. This surge continued a positive trend, with the stock recording gains for two consecutive days, delivering an 11.71% return over this period.
MCX’s price currently trades above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling strong upward momentum and technical strength. This contrasts with the broader market, where the Sensex, after a flat opening, rose 0.42% to close at 82,199.49 points, still 4.82% shy of its own 52-week high of 86,159.02.
Long-Term Performance and Valuation
Over the past year, MCX has delivered an impressive 130.68% return, significantly outperforming the Sensex’s 8.30% gain during the same period. The stock’s 52-week low was Rs.882.02, highlighting the scale of its rally. This strong performance is supported by the company’s solid fundamentals and consistent growth trajectory.
MCX’s average Return on Equity (ROE) stands at 16.92%, reflecting efficient capital utilisation. The company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 33.25% and operating profit growing at 33.13%. Net profit growth has been particularly remarkable, rising by 102.33%, with the company reporting outstanding quarterly results in December 2025.
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Quarterly Highlights and Operational Metrics
The company’s latest quarterly figures reinforce its strong position. Net sales reached a record Rs.665.62 crores, while PBDIT hit Rs.495.16 crores, both the highest recorded to date. The operating profit margin to net sales ratio also peaked at 74.39%, indicating efficient cost management and robust profitability.
MCX has maintained positive results for eight consecutive quarters, underscoring consistent operational strength. Institutional investors hold a substantial 79.79% stake in the company, reflecting confidence from entities with extensive analytical resources.
Valuation Considerations and Market Position
Despite its strong fundamentals and performance, MCX’s valuation metrics indicate a premium positioning. The stock’s Price to Book Value ratio stands at 29.6, which is high relative to its peers. The company’s ROE of 33.4% further contributes to this elevated valuation. However, the PEG ratio of 0.8 suggests that the stock’s price growth remains reasonably aligned with its earnings expansion.
MCX’s market capitalisation grade is rated 2, and its Mojo Score has recently improved to 82.0, upgrading its Mojo Grade from Buy to Strong Buy as of 18 Nov 2025. This upgrade reflects the company’s enhanced financial metrics and market performance.
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Sector and Market Dynamics
Operating within the Capital Markets sector, MCX’s performance stands out amid a market environment where mega-cap stocks are leading gains. The Sensex’s current position below its 50-day moving average, despite the 50DMA itself trading above the 200DMA, highlights a mixed technical backdrop for the broader market. MCX’s ability to sustain gains above all major moving averages signals relative strength within its sector.
MCX’s consistent outperformance of the BSE500 index over the past three years further emphasises its resilience and growth potential within the capital markets space.
Summary of Key Metrics
To summarise, Multi Commodity Exchange of India Ltd’s new 52-week high of Rs.2604.95 reflects a combination of strong financial results, sustained price momentum, and favourable market positioning. The stock’s 130.68% return over the last year, coupled with robust quarterly earnings and institutional backing, underpin this milestone.
While valuation metrics indicate a premium, the company’s growth rates and profitability ratios provide context for this elevated pricing. The recent upgrade to a Strong Buy Mojo Grade further highlights the stock’s improved standing among market analysts.
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