MCX spurts on launching membership drive

Multi Commodity Exchange of India (MCX) is currently trading at Rs 1,188.00, up by 15.00 points or 1.28% from its previous closing of Rs 1,173.00 on the BSE.

The scrip opened at Rs 1180.80 and has touched a high and low of Rs 1,198.00 and Rs 1,179.25 respectively. So far 46,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs 1426.00 on 09-Mar-2012 and a 52 week low of Rs 838.00 on 23-May-12.

Last one week high and low of the scrip stood at Rs 1198.00 and Rs 1140.05 respectively. The current market cap of the company is Rs 4,573 crore.

The promoters holding in the company stood at 26.00% while Institutions and Non-Institutions held 55.67% and 18.33% respectively.

Setting the stage for competition, MCX Stock Exchange (MCX-SX), the new entrant, which is expected to go live with equity and debt market trading from Diwali, has unveiled a drastically lowered deposits and net worth requirements for its members compared to the country's leading bourses.

A broker to become a trading member of MCX, which in July got the regulatory nod to become a full-fledged exchange, as an introductory offer, will just require a deposit of Rs 20 lakh for all segments, compared to Rs 1.5 crore for corporate members and Rs 75 lakh for others on NSE, and Rs 30 lakh for BSE. However, the introductory offer would be valid only till October 18, post to which the charge would be doubled.

MCX-SX, which had started operations in Currency Futures segment, received permissions to deal in Interest Rate Derivatives, Equity, Futures & Options on Equity and Wholesale Debt Segment, vide SEBI’s letter dated July 10, 2012.

Multi Commodity Exchange of India (MCX) has registered a rise of 4.37% in its net profit at Rs 64.74 crore for first quarter ended June 30, 2012 as compared to Rs 62.03 crore for the same quarter in the previous year. The total revenue of the company has increased by 5.67% at Rs 146.23 crore for Q1FY13 as compared Rs 138.39 crore for the corresponding quarter previous year.

Multi Commodity Exchange of India is the leading commodities exchange in India based on value of commodity futures contracts traded. The company is the first national commodity futures exchange in India to offer futures trading in steel, crude oil and several other commodities, including carbon credits