Multi Commodity Exchange of India (MCX) share price rose over 2% to a 52-week high on Wednesday after the company announced a revision in transaction fees for both futures and options (F&O) contracts. MCX shares gained as much as 2.70% to a fresh high of ₹6,037.05 apiece on the BSE.
According to the updated fee structure, MCX will levy a fixed charge of ₹2.10 per lakh of turnover for futures contracts and ₹41.80 per lakh of premium turnover for options contracts. The applicable transaction fees for Futures and Options contracts with effect from October 01, 2024, MCX said.
The country’s largest commodity exchange, MCX has moved from a tiered fee system to fixed transaction fee structure following the directive of the Securities and Exchange Board of India (Sebi).
The change is in line with the Sebi’s True to Label principle, i.e. the fees levied on the end client by exchange members shall not exceed the amount charged by the exchange to the member.
Brokerage firm Morgan Stanley expects the hike in MCX transaction fees to lead to a 5% increase in earnings per share (EPS) for FY26 for the company, assuming that other relevant factors remain constant.
Morgan Stanley has an ‘Underperform’ rating on MCX shares with a target price of ₹2,950 apiece, implying nearly 50% downside from Tuesday’s closing price.
MCX Share Price
MCX share price has given stellar returns to investors this year. MCX stock has risen over 21% in one month and more than 50% in three months. MCX shares are up over 86% year-to-date (YTD) and have delivered multibagger returns of over 210% in one year.
At 12:20 pm, MCX shares were trading 0.39% higher at ₹5,901.00 apiece on the BSE.
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