MCX Technical Setup Favors Bulls, Says SEBI RA Post Q1 Beat, Stock Split Approval
Synopsis
MCX launched several new contracts and saw rising institutional interest, which the analyst said contributed to strong operating momentum and scale.
Indian commodities exchange MCX shares rose nearly 5% on Monday after it reported strong first quarter (Q1) results with a rise in profit, robust trading volumes, and new product traction.
SEBI-registered analyst Saurabh Sahu noted rising institutional participation and affirmed a bullish technical outlook near support levels.
Q1 Earnings Review
MCX reported a healthy set of Q1 results, with revenue surging 60% on-year to ₹405.8 crore and profit after tax jumping 83% to ₹203.2 crore.
EBITDA rose 81% to ₹274.3 crore, as margins expanded to 65% from 55% a year ago.
Sequentially, revenue grew 28%, profit rose 50%, and EBITDA expanded 51%. Average daily turnover (ADT) surged 80% year-on-year (YoY) to ₹3.1 lakh crore, reflecting improved volumes across the platform.
Sahu highlighted that growth was supported by new product launches, including Gold Mini, Silver 30kg and 5kg contracts, and electricity futures.
He also noted that MCX now ranks sixth globally in commodity options volume, underlining the platform’s growing scale and innovation.
The company announced a ₹30 per share dividend, with a record date set for August 8, 2025, and approved a 1:5 stock split, reducing the face value from ₹10 to ₹2.
Technical Outlook
Sahu observed that this ₹7,595–₹7,600 level coincides with a prior breakout zone, acting as a strong support. He placed the entry point at ₹7,600, with a stop-loss at ₹7,450 (close), and targets at ₹7,800–₹8,000.
The setup, he said, is favorable for bullish trades following the strong Q1 print.
Sahu added that MCX’s latest performance signals rising institutional interest, robust product innovation, and scale-driven momentum, calling it “a defining quarter for India's commodity markets.”
On Stocktwits, retail sentiment for MCX was ‘bullish’ amid ‘high’ message volume.
The stock has risen 26.8% so far in 2025.
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