MCX Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹68,470 Cr
- Book Value
- ₹111.7
- Stock P/E
- 44.4
- Dividend Yield
- 0.22%
- ROE
- 56.3%
- ROCE
- 71.4%
- PEG Ratio
- 0.91
- EV/EBITDA
- 32.3
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Technical snapshot
EOD ·Multi Commodity Exchange of India Ltd closed at ₹2,973.00 on 19 August 2026, down 2.2% on the day, 5.8% above its 50-day average, 14.6% below its 52-week high, with volume at 1.36× its 20-session average.
- RSI 14
- 60.1
- vs 50-day SMA
- +5.8%
- vs 200-day SMA
- +16.0%
- From 52-week high
- -14.6%
- Relative volume
- 1.36×
- 20-day return
- +6.0%
End-of-day prices from exchange-published files (NSE/BSE bhavcopy), updated after market close. Descriptive statistics, not investment advice.
MCX share price today
Multi Commodity Exchange (NSE: MCX) clears about 96% of India’s commodity derivatives — gold, silver, crude, natural gas, base metals. Like every dominant exchange, its moat is liquidity begetting liquidity, and its economics are absurd by normal-business standards: 72% operating margin, 71% ROCE, zero debt. The recent growth spurt is options: commodity options volumes have exploded, and options revenue drops to the bottom line at exchange margins.
Profit has compounded at 48.7% over five years (flattered by the technology-platform transition trough). At 44× with a PEG of 0.91, this is the rare monopoly that isn’t the most expensive thing on the board — for reasons the article takes seriously.
The toll booth on Indian commodity risk
Every hedger and speculator in Indian commodities pays MCX’s toll, and network effects keep them there: liquidity is deepest where liquidity already is. The growth stack: options adoption (retail-led, still early against equity-options penetration), new contracts (electricity futures, index products), and institutional participation as regulations gradually admit more categories.
The IEX lesson applies here in reverse — remember what a regulatory redesign did to that exchange’s multiple. MCX’s equivalent risks: transaction-charge regulation by SEBI, technology-vendor dependence (the platform migration was traumatic; stability since matters), and competition remaining theoretical only as long as liquidity never fragments.
The numbers
Financial snapshot — 5 August 2026
| Metric | Value |
|---|---|
| Market cap | ₹68,470 Cr |
| P/E (TTM) | 44.4 |
| EV/EBITDA | 32.3 |
| Operating margin | 72.0% |
| ROE / ROCE | 56.3% / 71.4% |
| Debt to equity | 0.00 |
| Sales CAGR (5y) | 42.6% |
| Profit CAGR (5y) | 48.7% |
| Promoter holding | 0% (institutionally owned) |
| EPS (TTM) | ₹60.4 |
MCX share price target 2026 to 2030
EPS base ₹60.4 (TTM). The 48.7% CAGR includes recovery-year flattery; scenarios normalise. Bear: options growth stalls and SEBI trims charges — 8% growth, multiple compresses to 28×. Base: options adoption keeps compounding — 17% growth at 36×. Bull: electricity derivatives and institutional flows open new pools — 24% growth at 44×.
From ₹2,680, the base case is ≈ +78% over four and a half years. The bear case is about −7%: regulator-set economics can compress faster than volumes grow, and this stock has lived that movie before. The liquidity monopoly and regulatory risk must be weighed together.
Reasons to own MCX (at the right price)
- 96% market share — network-effect liquidity that has repelled every challenger.
- 72% operating margins and 71% ROCE — exceptional unit economics by any standard.
- The options boom is early: commodity-options penetration lags equity options by years.
- New product pipeline: electricity derivatives, indices, longer-dated contracts.
- PEG 0.91 — monopoly economics not yet priced like Indian monopolies usually are.
The risks: SEBI sets the ceiling on transaction economics, platform stability is existential (2023 taught that), and volumes correlate with commodity volatility — quiet markets are bad quarters.
What to weigh at the current price
MCX’s liquidity moat and options growth support exceptional economics, but regulation and technology resilience can change the valuation quickly. Volume quality, transaction charges and platform stability are the evidence to follow.
FAQ
What is the MCX share price target for 2030? The table above presents bear, base and bull paths through 2030. Each depends on the stated EPS-growth and valuation assumptions; none is a guaranteed outcome.
Why is MCX growing so fast? Commodity options — retail adoption of gold, silver and crude options has exploded, and each incremental contract clears at software margins.
What is MCX’s biggest risk? Regulation: SEBI can cap transaction charges or redesign market structure, the same class of risk that de-rated IEX in power markets.
When are MCX’s next results? Check the results calendar and confirm the announced date in the exchange filing.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.