Pending — not yet graded
Maintained a 'Buy' rating on MCX with a target price of ₹3,600, indicating over 24% upside potential. The firm anticipates that FPI participation in physically settled non-agricultural contracts could add 3% to MCX's profit, and a deepening of commodity index options could add 10% to profits if they reach 10% of monthly equity ADTO in three years.

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%

MCXBullishCalled 12 Aug 2026
Verdict:PENDING

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Tracking MCX since this call

1-year tracking window
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