Buy MCX, target price Rs 1800: Motilal Oswal

Motilal Oswal has given buy rating for MCX with a target price of Rs 1800. The share price moved up by 0.52 per cent from its previous close of Rs 1630.65. The stock’s last traded price is Rs 1639.20.

Multi Commodity Exchange of India Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 8355.83 Crore) operating in Financial Services sector.

Multi Commodity Exchange of India Ltd. key Products/Revenue Segments include Fees & Other Charges which contributed Rs 357.51 Crore to Sales Value (96.50 % of Total Sales) and Other Operating Revenue which contributed Rs 12.93 Crore to Sales Value (3.49 % of Total Sales)for the year ending 31-Mar-2020.


Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 73.01 Crore, down 30.65 % from last quarter Sales of Rs 105.28 Crore and down 8.11 % from last year same quarter Sales of Rs 79.45 Crore. The Company reported net profit after tax of Rs 56.32 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of June 30, 2020, while FIIs held 38.8 per cent, DIIs 38.7 per cent and public and others 22.5 per cent.