MCX gains CSuisse touts market share

MCX-GAINS-CSUISSE-TOUTS-MARKET-SHARE:MCX gains CSuisse touts market share

 

Reuters Market Eye - Multi Commodity Exchange of India Ltd gains 2.7 percent to 1,055.90 rupees after Credit Suisse initiates coverage of the stock with an "outperform" rating and a target price of 1,450 rupees.

Credit Suisse cites as reasons MCX's 86 percent market share among domestic commodity exchanges, lower trading penetration in India and attractive valuations versus its regional peers.

The brokerage says MCX could "see some upside" after unit MCX-SX was given clearance last month to trade equities, though it adds "we have not considered any at this stage."