MCX

MCX was doing well on Friday. The stock was buzzing loud as excitement had built up for 11th Feb, today, the day when the company begins its trading of cash equities and equities derivatives. Since the past over 12 months, the company has been vying to launch is stock exchange and it will compete head-on with its established rivals BSE and NSE. MCX-SX was granted the status of a “recognised stock exchange” by the Ministry of Corporate Affairs (MCA), Government of India, on December 21, 2012.

The company did well for Q3FY13, with a 10% rise in net profit at Rs.76 crore on a YoY though this was on a 3.6% decline in net income at Rs.130 crore. MCX currently offers futures trading in bullion, metals and agri commodities on its platform.  Its Net Profit margin for the quarter was at 58.40% compared to 59.67% in Q2. MCX-SX is controlled by the Multi Commodity Exchange of India while Financial Technologies has 26 per cent stake in MCX. Truly a stock to watch out for the long term.