Multi Commodity Exchange of India Limited is an independent and de-mutualized exchange. The Exchange has permanent recognition from the Government of India for facilitating online trading, clearing, and settlement operations for commodity futures markets across the country.
MCX is a good bet trading at a P/E of around 18. As its a new listing, nor much financial info is available. MCX posted consolidated net profit of Rs 286.53 crore in FY 12 as against rs 173.09 crore in the FY 11. NPM is very strong at 47% for FY2012. MCX IPO was given at Rupees 1032 per share. Share prices rose till 1400 and has corrected in this market fall. Its a good time to buy. Commodity trading is on the rise and future prospects look good.
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