Synopsis:
Exchange and data platform company shares hit a 52-week high on surging gold and silver trading volumes. HDFC Securities reaffirmed its “Buy” rating with a Rs. 10,000 target, citing robust growth momentum, product innovation, and favorable market dynamics.
MCX India shares surged 6% to a new 52-week high, driven by strong investor interest following standout growth in trading volumes particularly in gold and silver options contracts.
With market capitalization of Rs. 47,939 cr, the shares of Multi Commodity Exchange of India Ltd (MCX) are currently trading at Rs. 9,400 per share, increased 6% in today’s market session making a high of Rs. 9,460, from its previous close of Rs. 8,937.50 per share.
HDFC Securities has reinforced its positive view on the exchange, maintaining a “Buy” rating with a price target of Rs. 10,000, which is 6% from its current levels citing robust momentum in core business segments as a key growth driver.
The latest spike comes as MCX reported that its average daily trading volume for options premiums jumped to about Rs. 67 billion in October 2025, up significantly from Rs. 41 billion in the previous year same quarter, propelled mainly by gold and silver contracts that now contribute around 60% of total notional volume and 30% of premium ADTV.
The brokerage notes MCX’s consistent revenue and profit growth outlook through FY25 to FY28, highlighting new product launches, technological improvements, and the upcoming introduction of cash-settled index contracts as catalysts for further growth.
Regulatory support and an increasingly diversified revenue base are expected to sustain strong institutional participation and enhance valuation multiples, positioning MCX as a leading beneficiary of India’s deepening commodity derivatives market.
About the company
Multi Commodity Exchange of India Ltd (MCX) is the country’s leading commodity derivatives exchange, providing a platform for trading in commodities such as gold, silver, crude oil, natural gas, and various agricultural products. Established in 2003 and regulated by SEBI, MCX plays a vital role in India’s commodity market ecosystem by offering transparent price discovery and risk management tools. With strong fundamentals, growing trading volumes, and increasing participation from investors, MCX stands as a key beneficiary of India’s expanding commodities and financial derivatives market.
Written by Manideep Appana
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