MCX - Volumes at an All-Time High; PAT Above Estimate
MCX posted 73% YoY growth in operating revenue to INR2.9b (5% above our estimate) in 2QFY25. Operating revenue rose 67% YoY in 1HFY25.
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Hold Multi Commodity Exchange of India - Volume Growth Surprising Positively
MCX’s Q2FY25 results exhibit three main trends: 1) consolidating on the new steady cost profile; 2) Healthy volumes across futures, options and...
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Mcx - New Products to Be Key Growth Drivers
After future volumes on these products exceed the volume threshold of INR10b, MCX will launch options contracts.For MCX, retail participation has...
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Multi Commodity Exchange of India - Positive Surprise in Volumes Lead to Earnings Upgrades
Volumes have been strong in MCX across options and futures, as well as the premium conversion rates in Aug’24 after a weak Jul’24.
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MCX: Scaling New Heights, Improving Visibility. Maintain BUY
We recently met with MCX management. We gained more confidence in their strategic direction, which includes (1) launching new products such as...
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