MCX shares cross ₹10,000 mark for the first time, new CEO bets on strong volume growth

Shares of Multi Commodity Exchange of India (MCX) Ltd. are trading with gains of over 2.5% on Wednesday, November 26, extending their gains for the fourth straight session.

With this move, shares of MCX have crossed the mark of ₹10,000 for the first time, trading at a record high level.

Shares of MCX have now gained in eight out of the last 10 trading sessions.

The stock is now up 10% in the month of November, set to mark its third straight month of gains. Out of the 11 months of 2025 so far, shares have gained in seven of them.

MCX shares are up 62% on a year-to-date basis, extending their gains from 2024, when the stock had gained 95%, and in 2023, when the stock had doubled in value, gaining 106%.

Axis Capital had recently initiated coverage on the stock with a "buy" rating and a price target of ₹12,500. UBS too, had raised its target to ₹12,000 from ₹10,000 earlier, having upgraded it to a "buy" rating back in October 2024.

Axis Capital's price target is the highest on the street for MCX.

In a recent interaction with CNBC-TV18, MCX CEO Praveena Rai said that the company is growing at 40% on the operating revenue side and 50% on the EBITDA side, and that the company's aim is to be capable of processing 10 billion orders per day.

Rai said that the growth target stands at 10x but it may not happen in one shot, and that the first milestone is expected in the next 12-18 months.

11 analysts have coverage on MCX, where five of them have a "buy" rating, four say "hold" and two have a "sell" rating.

Shares of MCX are now trading 3% higher at ₹10,162.5, having gained 9.2% in the last one month.