Buy Multi Commodity Exchange of India, target Rs 880: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Multi Commodity Exchange of India Ltd. with a target price of Rs 880. The current market price of Multi Commodity Exchange of India Ltd. is Rs 834.25. Time period given by the analyst is Intra Day when Multi Commodity Exchange of India Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 815. Multi Commodity Exchange of India Ltd., incorporated in 2002, is a midcap company with a market cap of Rs 4254.54 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 30-06-2018, the company has reported a Consolidated sales of Rs 72.87 Crore, up 3.24 % from last quarter Sales of Rs 70.58 Crore and up 23.11 % from last year same quarter Sales of Rs 59.19 Crore Company has reported net profit after tax of Rs 7.33 Crore in latest quarter. The company’s top management includes Dr.M Govinda Rao, Mr.Amit Goela, Mr.Arun Bhargava, Mr.Basant Seth, Mr.Chengalath Jayaram, Mr.Hemang Raja, Mr.Mrugank Madhukar Paranjape, Mr.Parveen Kumar Singhal, Mr.Prithvi Haldea, Mr.Saurabh Chandra, Mr.Shankar Aggarwal, Ms.Madhu Vadera Jayakumar, Ms.Padma Raghunathan. Company has Shah Gupta & Co. as its auditoRs As on 30-06-2018, the company has a total of 50,998,369 shares outstanding.