Multi Commodity Exchange of India Ltd. NSE: MCX | BSE: 534091

Strong Performer, Getting Expensive

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8232.50 184.50 (2.29%)

127.40% Gain from 52W Low

614.3K

NSE+BSE Volume

NSE 14 Jul, 2025 1:24 PM (IST)

Dividend

Multi Commodity Exchange of India Ltd. has an upcoming dividend of ₹30.00 per share due on 08 Aug 2025 See details

Multi Commodity Exchange of India Ltd. share price target

Multi Commodity Exchange of India Ltd. has an average share price target of 5662.67. The consensus estimate represents a downside of -31.22% from the last price of 8232.50. View 8 reports from 3 analysts offering long-term price targets for Multi Commodity Exchange of India Ltd..

Reco - This broker has downgraded this stock from it's previous report.
(eg. - Buy->Hold)

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Reco - This broker has upgraded this stock from it's previous report.
(eg. - Sell->Hold)

Target - Broker has maintained previous recommendation but increased share price target.

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Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report		Discuss
	14 Jul 2025	Multi Commodity Exchange	Consensus Share Price Target	8232.50	7763.00	-	-5.70	buy	pdf Detailed Estimates
	22 May 2023	Multi Commodity Exchange	ICICI Securities Limited	8232.50	1412.00	1351.40 (509.18%)	Target met	Hold	pdf post cache		Broker Report Software transition remains key; options maintains momentum ICICI Securities Limited Multi Commodity Exchange (MCX) has reported Q4FY23 EBITDA of Rs21mn, being impacted by higher software cost. Increasing options volumes have been the key investment thesis for the company and Q4FY23 saw this trend continuing as options ADTV (notional) touched an all-time high of Rs550bn in Mar’23. pdf Copy Link Share on Share on Share on Share on Alert
	16 Mar 2023	Multi Commodity Exchange	Motilal Oswal	8232.50	1450.00	1486.60 (453.78%)	Target met	Neutral	pdf post cache		Broker Report FPI participation in commodity derivatives to be positive Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2023	Multi Commodity Exchange	Keynote Capitals Ltd	8232.50		1403.00 (486.78%)		Not Rated	pdf post cache		Broker Report MCX India Limited Keynote Capitals Ltd Quarterly Update Q3FY23 pdf Copy Link Share on Share on Share on Share on Alert
	07 Feb 2023	Multi Commodity Exchange	ICICI Direct	8232.50	1700.00	1392.95 (491.01%)	Target met	Buy	pdf post cache		Broker Report Multi Commodity Exchange ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	07 Feb 2023	Multi Commodity Exchange	ICICI Securities Limited Target	8232.50	1412.00	1425.15 (477.66%)	Target met	Hold	pdf post cache		Broker Report High software costs to impact FY23/24 earnings; options/new launches can drive volume growth ICICI Securities Limited Payout for software contract extension to 63 Moons has been significantly higher than expected at ~Rs2.5bn for MCX over the three quarters of Q3FY23, Q4FY23 and Q1FY24. The enormity of the amount can be assessed from the fact that the software cost for FY22 was only Rs557mn. pdf Copy Link Share on Share on Share on Share on Alert
	06 Feb 2023	Multi Commodity Exchange	Motilal Oswal Reco Target	8232.50	1450.00	1425.15 (477.66%)	Target met	Neutral	pdf post cache		Broker Report Uncertainty on software expenses continues to loom Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	02 Jan 2023	Multi Commodity Exchange	ICICI Securities Limited Reco Target	8232.50	1669.00	1554.20 (429.69%)	Target met	Accumulate	pdf post cache		Broker Report Extension of existing software contract remains an overhang; traction in options is key ICICI Securities Limited Multi Commodity Exchange of India (MCX) options has now extended the contract with existing software platform provider (63 moons) till June’23. This is disappointing considering that the new extension (6 months) is longer than the first extension (3 months) along with the related higher cost incidence now in FY23/24. pdf Copy Link Share on Share on Share on Share on Alert
	06 Dec 2022	Multi Commodity Exchange	ICICI Securities Limited Target	8232.50	1795.00	1560.30 (427.62%)	Target met	Buy	pdf post cache		Broker Report Option volumes showing strong promise ICICI Securities Limited Volume rise in options has been the consistent investment thesis for Multi Commodity Exchange of India (MCX). Options ADTV rose sharply from Rs198bn in Q1FY23 to Rs313bn in Q2FY23. pdf Copy Link Share on Share on Share on Share on Alert
	31 Oct 2022	Multi Commodity Exchange	Keynote Capitals Ltd	8232.50	1786.00	1517.00 (442.68%)	Target met	Buy	pdf post cache		Broker Report MCX India Limited Keynote Capitals Ltd Initial Coverage Report pdf 1 Copy Link Share on Share on Share on Share on Alert
	27 Oct 2022	Multi Commodity Exchange	ICICI Direct Target	8232.50	1700.00	1512.75 (444.21%)	Target met	Buy	pdf post cache		Broker Report Multi Commodity Exchange ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
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