MCX shares rise 5% post Q1 results; should you buy? Analysts weigh in

MCX reported a profit after tax (PAT) of ₹203.19 crore during the quarter ended June 30, 2025, up 83 per cent from ₹110.92 crore reported in the year ago period

MCX share price today: Shares of Multi Commodity Exchange (MCX) experienced a surge of over 5 per cent on Monday, August 4, 2025, logging an intraday high of ₹7,964 on the back of 1:5 stock split, Q1 earnings.

 

At 09:45 AM, MCX shares were trading at ₹7,964, up by 3.87 per cent on the National Stock Exchange. In comparison, Nifty50 was trading largely flat at 24,587.40 level, up by just 0.09 per cent or 22 points. The stock is currently trading over 90 per cent higher than its 52-week low of ₹4,130.05. MCX shares hit a 52-week high of ₹9,115 in July last year.

 

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Why were MCX shares buzzing in trade today?

The buying interest on the counter came after the commodity exchange released its earnings for the first quarter of the financial year 2025-2026 (Q1FY26). 

 

The commodity exchange reported a profit after tax (PAT) of ₹203.19 crore during the quarter ended June 30, 2025, up 83 per cent from ₹110.92 crore reported in the corresponding period of the previous financial year. The revenue from operations figure stood at ₹373.21 crore during the quarter under review, marking a year-on-year (Y-o-Y) growth of 59 per cent, from ₹234 crore reported in Q1FY25.  Meanwhile, the company’s board has approved a stock split in the ratio of 1:5, whereby the face value of each fully paid-up share will be reduced from ₹10 to ₹2. As per the regulatory filing, this will "enhance stock affordability, making it more accessible to retail investors." 

 

MCX had even launched electricity futures contracts just earlier this year. "This was a much-needed risk management instrument and an effective protection against high volatility in electricity prices. The Exchange commenced trading of Electricity Futures (Monthly Base Load) contract, settled in cash on the basis of spot prices on Indian Energy Exchange," the regulatory filing read. Earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at ₹274.27 crore.

 

MCX's total income for the quarter under review stood at ₹405.82 crore, as against ₹253.19 crore reported in the first quarter of FY25, indicating a rise of 60 per cent. That apart, Average Daily Turnover (ADT) of futures and options increased by 80 per cent Y-o-Y to ₹3,10,775 crores from ₹1,72,759 crore. Interestingly, the bullion segment's overall share in ADT increased from 23 per cent to 44 per cent. 

Check List of Q1 results today

Should you buy?

While MCX shares have delivered multibagger returns in the last 1-year period, the stock has experienced some pain in the short term. For instance, in the last month, the stock has fallen by nearly 14 per cent after reaching the peak of ₹9,115. D-street analysts have taken a cautiously optimistic stance, advising current investors to 'Hold' their positions and consider buying the stock only on dips.

 

"At current levels, MCX appears to be a decent pick, with revenues expected to remain buoyant in the coming quarters. However, rather than chasing the stock, investors might consider adopting a ‘buy-on-dips’ approach, given its multibagger run. Existing investors can continue to hold," said Kranthi Bathini, director - equity strategy at WealthMills Securities. 

 

"On the weekly chart, the price has formed an evening star candlestick chart pattern, which is a bearish formation in the first half of July. On the daily chart, the stock has been falling with a lower highs-lower lows formation, indicating bearishness in current price action. Strong support is placed at ₹7,600, while an upside hurdle is at ₹8,050 level. Investors are suggested to wait for a correct and sustained price to buy the stock above ₹8,050-₹8,100 level for upside potential of 12 per cent with risk managed at 5 per cent from the buying level," said Ravi Singh, SVP-retail research at Religare Broking.