MCX Research Report By HDFC Sec

Tagged: HDFC Securities, MCX

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May 20, 2015 at 10:09 pm #2046

Vidhi Khanna
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We maintain our high-conviction positive stance on the company on account of (1) significant business operating leverage, which is apparent in the quarterly results (2) potential for non-linear growth driven by conducive policy framework (fructification of the SEBI-FMC merger). We maintain our estimates and continue to value MCX at 25x FY17E EPS arriving at a target price of Rs 1,530.

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