Shares of Multi Commodity Exchange Of India Ltd. (MCX) will be in focus in trade Wednesday (September 25).Global brokerage firm Morgan Stanley has issued an ‘Underperform’ rating on MCX, with a price target of ₹2,950 per share.The price target ascribed by Morgan Stanley implies a potential downside of nearly 50% from the stock’s last closing levels.
The brokerage noted that the revision in transaction fees will align with capital markets regulator SEBI’s true-to-label regulations.All else being equal, the increase in transaction fees is expected to result in a 5% rise in FY26 earnings per share (EPS).Morgan Stanley said that large proprietary and high-frequency traders will be particularly sensitive to this increase.
The brokerage emphasised the need to assess the impact on trading volumes.Earlier on Tuesday, MCX announced a revision in the transaction fees that are levied on futures and options contracts.For futures contracts, MCX has fixed a transaction fee of ₹2.1 per…
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