Buy Multi Commodity Exchange of India, target Rs 825: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Multi Commodity Exchange of India Ltd. with a target price of Rs 825. The current market price of Multi Commodity Exchange of India Ltd. is Rs 789.25. Time period given by the analyst is Intra Day when Multi Commodity Exchange of India Ltd. price can reach defined target. Kunal Bothra recommended to keep stop loss at Rs 775.

Multi Commodity Exchange of India Ltd., incorporated in 2002, is a mid-cap finance company with a market cap of Rs 4025.05 crore.
Multi Commodity Exchange of India Ltd. key Products/Revenue Segments include Fees & Other Charges which contributed Rs 238.60 Crore to Sales Value (91.96 % of Total Sales), Other Operating Revenue which contributed Rs 18.19 Crore to Sales Value (7.01 % of Total Sales) and Ware Housing Charges which contributed Rs 2.64 Crore to Sales Value (1.01 % of Total Sales)for the year ending 31-Mar-2017.


For the quarter ended 31-03-2018, the company has reported a Consolidated sales of Rs 70.58 Crore, up 15.76 % from last quarter Sales of Rs 60.97 Crore and up 12.73 % from last year same quarter Sales of Rs 62.61 Crore Company has reported net profit after tax of Rs 34.15 Crore in latest quarter.

The company’s top management includes Dr.M Govinda Rao, Mr.Amit Goela, Mr.Arun Bhargava, Mr.Arun Kumar Nanda, Mr.Chengalath Jayaram, Mr.Hemang Raja, Mr.Mrugank Madhukar Paranjape, Mr.Parveen Kumar Singhal, Mr.Prithvi Haldea, Mr.Saurabh Chandra, Mr.Shankar Aggarwal, Mr.Subrata Kumar Mitra, Ms.Madhu Vadera Jayakumar, Ms.Padma Raghunathan. Company has Shah Gupta & Co. as its auditoRs As on 31-03-2018, the company has a total of 50,998,369 shares outstanding.