MCX gains after signing MoU with Mozambique Commodities Exchange

Multi Commodity Exchange of India rose 1.77% to Rs 1,026.95 at 14:55 IST after the company signed a Memorandum of Understanding with and Mozambique Commodities Exchange for strategic co-operation.

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 19.02 points or 0.07% at 28,542.22

On BSE, so far 61,000 shares were traded in the counter as compared with average daily volume of 46,235 shares in the past one quarter. The stock hit a high of Rs 1,038 and a low of Rs 1,005 so far during the day. The stock had hit a 52-week high of Rs 1,115.90 on 28 July 2016. The stock had hit a 52-week low of Rs 726 on 12 February 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, rising 1.62% compared with 1.92% rise in the Sensex. The scrip also underperformed the market in past one quarter, gaining 3.55% as against Sensex's 6.57% rise.

The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.

Multi Commodity Exchange of India (MCX) and the Mozambique Commodities Exchange (also known as Bolsa De Mercadorias De Mocambique, or BMM), yesterday, 20 September 2016 signed a Memorandum of Understanding (MoU) for strategic co-operation. BMM envisages to develop Mozambican commodity markets ecosystem consisting of energy, base metals and agricultural products in an endeavor to deliver better value to the stakeholders. MCX intends to work with BMM to help Mozambique realize its potential behind its resource rich economy through sharing its market, institutional, and capacity development expertise. The exchanges aim to continue facilitating potential collaboration in areas such as sharing of knowledge, research, experiences etc., which is expected to result in opening up of new avenues of mutual cooperation.

Multi Commodity Exchange of India (MCX)'s net profit rose 54.55% to Rs 32.81 crore on 23.13% rise in total income to Rs 93.79 crore in Q1 June 2016 over Q1 June 2015.

MCX is India's first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.

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