MCX

Jan 20 (Reuters) - Multi Commodity Exchange of India Ltd MCEI.NS:

• MULTI COMMODITY EXCHANGE DEC-QUARTER CONSOL NET PROFIT 1.6 BILLION RUPEES

• MULTI COMMODITY EXCHANGE DEC-QUARTER CONSOL INCOME FROM OPERATIONS 3.01 BILLION RUPEES

Source text: ID:nBSE86pB2

Further company coverage: MCEI.NS

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By Rajendra Jadhav

MUMBAI, Dec 19 (Reuters) - India extended the suspension of trading in derivative contracts for key farm commodities until January, as the world's largest importer of vegetable oils and a major producer of wheat and rice seeks to curb food inflation.

The Securities and Exchange Board of India (SEBI) initially ordered a year-long suspension of futures trading in key farm commodities in 2021 — a significant move since futures trading was allowed in 2003.

The suspension was first extended until December 20, 2023, and later to December 20, 2024.

In a notification issued late on Wednesday, SEBI said the suspension of trading in futures contracts would now continue until January 31, 2025, on soybean and its derivatives, crude palm oil, wheat, paddy rice, chickpeas, green gram and rapeseed.

"Instead of extending the ban for a year as it did in the past two instances, it has extended it for only one month. This is a good sign. Perhaps futures trading will be allowed early next year," said a Mumbai-based dealer with a global trade house.

The Indian vegetable oil industry has been seeking the resumption of futures trading to help importers hedge their risks and provide oilseed growers with an indication of future price movements.

The resumption of futures trading in soybean, rapeseed, and their derivatives would help bring stability to oilseed prices, said B V Mehta, executive director of The Solvent Extractors' Association of India.

India meets nearly two-thirds of its edible oil requirements through imports, primarily of palm oil from Indonesia and Malaysia, as well as soyoil and sunflower oil from Argentina, Brazil, Russia, and Ukraine.

India's National Commodity and Derivatives Exchange (NCDEX), which derives most of its volume from trading in farm commodities, was the most affected by the government's decision, followed by the Multi Commodity Exchange MCEI.NS.

(Reporting by Rajendra Jadhav; Editing by Lincoln Feast.)

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** Shares of Multi Commodity Exchange of India MCEI.NS rise as much as 8.5% to hit record high of 7,040 rupees

** Stock marks sharpest intraday pct gain since June 5

** Reuters could not immediately ascertain the reason behind day's move

** Share price above 50-day, 100-day and 200-day exponential moving averages

** More than 750,000 shares change hands, 1.8x of 30-day avg

** Avg rating of eight analysts equivalent of "hold", median PT is 6,685 rupees - LSEG data

** Stock up 13.8% so far this week, on track for best weekly gain since Sept. 2023

** Stock up 120% YTD, on track for best yearly gain since listing in March 2012

(Reporting by Ashish Chandra in Bengaluru)

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Sept 24 (Reuters) - Multi Commodity Exchange of India Ltd MCEI.NS:

• MULTI COMMODITY EXCHANGE - REVISION IN TRANSACTION FEES ON FUTURES AND OPTIONS CONTRACTS

• MCX - TRANSACTION FEE ON FUTURES CONTRACTS 2.10 RUPEES PER LAKH OF TURNOVER VALUE

• MCX - TRANSACTION FEE ON OPTIONS CONTRACTS 41.8 RUPEES PER LAKH OF PREMIUM TURNOVER VALUE

Further company coverage: MCEI.NS

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July 25 (Reuters) - Multi Commodity Exchange of India Ltd MCEI.NS:

• MULTI COMMODITY EXCHANGE - RE-APPOINTS HARSH KUMAR BHANWALA AS CHAIRMAN

Further company coverage: MCEI.NS

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** Shares of Indian Energy Exchange Ltd IIAN.NS rise as much as 6% to 166.4 rupees

** Power trading platform says monthly volumes in May up 29% y/y

** IIAN at highest level since May 21 and second-highest since Jan. 16

** Analysts covering IIAN rate it "hold" on avg, while peers Multi Commodity Exchange of India MCEI.NS and BSE BSEL.NS rated "buy" - LSEG data

** Stock trims YTD losses to 2% but trails MCEI's 4% YTD gain and BSE's 21% growth this year

(Reporting by Nandan Mandayam in Bengaluru)

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** Indian mid-cap .NIFMDCP100 and small-cap .NIFSMCP100 up 4.2% and 3.9% respectively ahead of the expected government formation by Prime Minister Narendra Modi's alliance

** Broader markets rise after volatile trade earlier in the day .BO while the blue-chip Nifty 50 .NSEI and BSE Sensex .BSESN were up nearly 3% each

** The mid-cap index eyes its best-day since Feb-2022; the small-cap index on track to log biggest one-day pct gain since Dec. 2022

** They dropped 7.9% and 8.2% respectively in the previous session

** MRF MRF.NS - up 4.9% - is the top gainer on NIFMDCP100 while Multi Commodity Exchange of India MCEI.NS- up 8.7% - is leading gains on the NIFSMCP100

(Reporting by Manvi Pant in Bengaluru)

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** Indian mid-cap .NIFMDCP100 and small-cap .NIFSMCP100 indexes down 2.2% and 2.8%, respectively

** Broader Indian markets down as victory margin for Modi-led alliance unclear in early trends .BO

** Modi alliance leads in majority of seats in early counts

** Mid-cap index on track for worst day since March 13, when it fell as stress tests of mutual funds were in focus

** Top pct losers on mid-cap and small-cap indexes are electricity generation firm SJVN SJVN.NS and exchange operator Multi Commodity Exchange of India MCEI.NS; down 7.2% and 6.5% respectively

(Reporting by Varun Vyas in Bengaluru)

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** Shares of Multi Commodity Exchange of India Ltd MCEI.NS down 5.2% at 210.50 rupees

** MCEI's Q4 consolidated net profit jumps 16x, while income from ops up 35%, but miss analysts' estimates

** Exchange operator trims losses after falling as much as 7.7% in first hour of trading

** Around 2.8 mln shares traded, 3.6x 30-day avg volume

** Analysts tracking MCEI rate it "buy" on avg, same as BSE Ltd BSEL.NS and better than "hold" for Central Depository Services (India) Ltd CENA.NS

** Stock has risen 19% this year, outperforming CENA's 14% rise but trailing BSEL's 40% jump

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Multi Commodity Exchange of India (MCX) MCEI.NS up 6% at 3,952.60 rupees

** Motilal Oswal upgrades stock to "buy" from "neutral", sets Street-high PT of 4,300 rupees

** New products, including gold serial contracts, power contracts, will be key growth drivers for MCX in near term, says Motilal Oswal

** MCX's recently launched Steel TMT bar contracts expected to result in large volumes for MCX, Motilal says

** Adds, completion of software transition to TCS TCS.NS from 63 Moons 63MO.NS will result in cost savings

** Avg rating of eight analysts at "buy"; median PT is 3,900 rupees - LSEG data

** Trading volume nearly 5x the 30-day moving avg, its busiest session so far this year

** Stock up 23.5% YTD after more than doubling in 2023

(Reporting by Kashish Tandon in Bengaluru)

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April 1 (Reuters) - Multi Commodity Exchange of India Ltd MCEI.NS:

• MULTI COMMODITY EXCHANGE OF INDIA LTD- SUCCESSFULLY CONDUCTS LIVE TRADING SESSION FROM DISASTER RECOVERY SITE

Source text for Eikon: [ID:]

Further company coverage: MCEI.NS

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** Shares of Multi Commodity Exchange of India MCEI.NS rise 2.7% to 3,682.60 rupees apiece

** UBS raises stock's TP to street high of 4,300 rupees from 3,000 rupees; new TP implies an upside of 20% over last close

** The mean rating of the seven analysts tracking MCEI is equivalent to "hold;" median TP at 3,800 rupees - LSEG data

** Company's plans to launch energy mini-option contracts in the next few weeks will improve liquidity and drive near-term volume growth, says UBS

** Adds, rally in MCEI shares not over yet and sees room for further rise, driven by strong earnings

** MCEI shares have gained ~130% in the last six months

(Reporting by Bharath Rajeswaran in Bengaluru)

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Updates to add trading commencement, MCX statement

MUMBAI/BENGALURU Feb 13 (Reuters) - India's biggest commodity exchange, the Multi Commodity Exchange (MCX) MCEI.NS, said on Tuesday trading has resumed on its commodity derivatives platform after a four-hour delay due to a technical hitch.

MCX is primarily a venue to trade gold, silver, crude oil and base metal futures contract in India, a leading importer of these commodities.

Trading, which usually starts at 0330 GMT, was delayed to 0730 GMT due to the slow processing and generation of backend files for the members, MCX said in a statement.

Earlier in the day, MCX had said the exchange as well as the technology vendor, Tata Consultancy Services TCS.NS, were working to resolve the issue.

The technical snag comes just under four months after the new commodity derivatives platform went live following several delays and regulatory interventions.

In September, India's markets regulator had asked the company to put on hold plans for its new commodity derivatives platform to go live after investor group Chennai Financial Markets and Accountability (CFMA) asked it to ensure that MCX had required technical support.

CFMA had filed a public interest litigation in the Madras High Court in December 2022.

Total traded clients in derivatives on the MCX exchange saw a 50.8% growth, reaching around 753,000 in the April-December period over the corresponding period last year, MCX recently said.

MCX shares pared some losses and were down 0.8% at 3,463 Indian rupees ($41.45) as of 0742 GMT.

($1 = 83.0075 Indian rupees)

(Reporting by Sethuraman NR and Rajendra Jadhav; Editing by Kim Coghill and Shri Navaratnam)

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** Shares of Multi Commodity Exchange of India (MCX) MCEI.NS up as much as 4.04% to 3,215 rupees

** ICICI Securities sees co's new software platform as potential tailwind to maintain volume growth momentum

** ICICI sees MCX facing little threat from competition, maintains "add" rating with PT raised to 3,322 rupees from 2,864 rupees

** New PT represents an upside of 7.5% to stock's last close, compared to a discount of 7.3% with previous PT

** See contraction in software costs, estimate core profit of 6.5 bln rupees in FY25E ($78 mln) - ICICI

** Adds increase in volumes with introduction of new products with lower contract size/multiple expiries within a month as key risks

** MCEI has risen 21.2% since posting Q2 results on Nov. 8

($1 = 83.3875 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** Shares of commodity derivatives exchange operator Multi Commodity Exchange of India (MCX) MCEI.NS up as much as 4% at an all-time high of 2,780 rupees

** Brokerage Investec raises PT to 2,565 rupees from 1,715 rupees; implied downside of 1.5% as per Friday's close

** MCX's transition to new commodity derivative platform (CDP) has now stabilized which will increase profitability - Investec

** Investec's upgraded TP is the third highest among analysts tracking the company - LSEG data

** Five of nine analysts rate the stock "buy" or "strong buy", two "hold", while two rate it "sell"; median PT is 2,350 rupees - LSEG data

** Including session's move, MCX stock up 78% YTD

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Multi Commodity Exchange of India MCEI.NS down 3.2% to 2,538.45 rupees

** The commodity derivatives exchange operator posts Q2 net loss vs yr-ago profit due to six-fold surge in software support costs to 2 bln rupees

** Morgan Stanley and Motilal Oswal says elevated software support costs due to extension of 63 Moons 63MO.NS contract

** Avg rating of the 9 analysts covering MCX is "hold" and median TP is 1,772.50 rupees - LSEG data

** MCEI shares up 64% in 2023 so far, including today's losses

(Reporting by Bharath Rajeswaran in Bengaluru)

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By Rajendra Jadhav

MUMBAI, Oct 27 (Reuters) - India on Friday extended the suspension of trading in derivative contracts of key farm commodities for the second time, to run into late 2024, as the world's largest importer of vegetable oils and a major producer of wheat and rice seeks to curb food inflation.

The Securities and Exchange Board of India (SEBI) in 2021 ordered a year-long suspension of futures trading in key farm commodities, a dramatic step since allowing futures trading in 2003. That suspension was last year extended until Dec. 20, 2023.

In a notification issued late on Friday, SEBI said the suspension of trading in futures contracts would now continue until Dec. 20, 2024, on soybean and its derivatives, crude palm oil, wheat, paddy rice, chickpea, green gram and rapeseed mustard.

"It's a very unfortunate move," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.

"The Indian vegetable oil industry is in dire need of a hedging mechanism to navigate the ongoing global market turbulence. Unfortunately, no such mechanism exists at present due to the absence of commodity futures."

India fills nearly two-thirds of its edible oil requirements through imports, which incurred a record cost of $20.8 billion in the 2022/23 financial year ended on March 31.

The move was expected by some market participants, as Prime Minister Narendra Modi's government aims to stabilize prices with a series of state elections coming next month ahead of a general election next year.

The government has made it abundantly clear that it won't permit the prices of food commodities to increase by implementing a range of export restrictions on wheat, rice, and sugar, said a Mumbai-based dealer with a global trade house.

"Sadly, the government links the price rise in food commodities to futures trading, so the extension was expected," he said.

India's National Commodity And Derivatives Exchange (NCDEX), which derives most of its volume from trading in farm commodities, was the most affected by the government's decision, followed by the Multi Commodity Exchange MCEI.NS.

(Reporting by Rajendra Jadhav
Editing by Bill Berkrot)

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Corrects typo in headline

** Shares of Multi Commodity Exchange of India (MCX) MCEI.NS up as much as 3.8% to record high of 2,179.45 rupees

** Commodity futures exchange operator proposes to go live with its new commodity derivatives platform (CDP) from Oct. 16

** Markets regulator SEBI withdrew hold on new platform, MCX said on Sunday

** MCEI up over 6% since Sunday and on track to rise for fifth straight session; stock up ~39% YTD

** Avg rating of 9 analysts covering MCX is "hold" (on a 5-scale rating from "strong buy" to "strong sell") - LSEG data

** Their median PT is 1,772.50 rupees - LSEG data

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of commodity futures exchange operator Multi Commodity Exchange of India (MCX) MCEI.NS rise as much as 4.5% to 2,131.6 rupees

** Co said on Sunday that Indian markets regulator SEBI withdrew hold on new commodity derivative platform and recommended co's platform may go live

** Stock on track to rise in third straight session, if trend holds

** Mean rating of eight analysts is "hold"; median PT is 1,715 rupees - LSEG data

** Stock last up 3.7%, taking YTD gain to 36.1%

(Reporting by Varun Vyas in Bengaluru)

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BENGALURU, Sept 29 (Reuters) - India's Multi Commodity Exchange of India (MCX) MCEI.NS on Friday said the country's markets regulator has asked the company to put on hold the proposed go-live of its new commodity derivatives platform planned for next week.

(Reporting by Sethuraman NR in Bengaluru; Editing by Sonali Paul)

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** Shares of Multi Commodity Exchange of India (MCX) MCEI.NS rise as much as 9.5% to highest since Nov. 2021 at 1,952.20 rupees

** MCX will go live on new tech platform from Oct. 1, CNBC-TV18 reported, citing sources

** Co did not immediately respond to Reuters' request seeking comments

** Co has had troubles with migration to a new tech platform

** About 2.9 mln shares change hands, 7.3x 30-day avg

** MCX shares are up over 23% YTD vs ~29% gain in Nifty small cap index .NIFSMCP

(Reporting by Nallur Sethuraman in Bengaluru)

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** Shares of commodity futures exchange operator Multi Commodity Exchange of India MCEI.NS rise 2.7% to 1,770 rupees

** UBS retains "buy", raises PT to 2,100 rupees, a 20.2% premium to current market price of 1,747 rupees

** Brokerage raises EPS estimates by 26% for FY24 and by 3%-6% for FY25-26, factoring in "strong" traction in options volumes and operating leverage

** Adds options volumes were uniform in Aug; says this is a positive over the long term with better liquidity

** Nearly 177,000 shares change hands as of 12:53 p.m. IST, 0.5x the 30-day moving average

** Mean rating of nine analysts is "hold"; median PT is 1,640 rupees - LSEG data

** Stock last up 1.3%, taking YTD gains to 15.9%

(Reporting by Varun Vyas in Bengaluru)

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Corrects media packaging code

BENGALURU, June 30 (Reuters) - Shares of Multi Commodity Exchange of India MCEI.NS fell as much as 10% on Friday after the company, late on Wednesday, extended the services of software vendor 63 Moons Technologies 63MO.NS for six months at a higher cost.

The commodity exchange renewed the contract for 2.50 billion rupees ($30.48 million) for six months, beginning July 1, compared with 810 million rupees for the first six months of the year.

($1 = 82.0170 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru; Editing by Janane Venkatraman)

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June 29 (Reuters) - 63 Moons Technologies Ltd 63MO.NS:

• 63 MOONS TECHNOLOGIES LTD - AGREED TO ELEVENTH-HOUR REQUEST BY MULTI COMMODITY EXCHANGE OF INDIA LIMITED

• 63 MOONS TECHNOLOGIES LTD - NEW ARRANGEMENT OF SOFTWARE SUPPORT SERVICE WILL BE FROM COMMENCING FROM 1ST JULY 2023 TO 31ST DECEMBER 2023

• 63 MOONS TECHNOLOGIES- THIS IS THIRD TIME MCX APPROACHED CO TO EXTEND SOFTWARE SUPPORT SERVICE ARRANGEMENT AFTER LONG-TERM ARRANGEMENT WITH MCX ENDED SEPT 30, 2022

Source text for Eikon: ID:nNSE6N2SJ3

Further company coverage: 63MO.NS

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** Shares of Multi Commodity Exchange of India Ltd MCEI.NS fall as much as 4.9% to 1,285.05 rupees, hitting lowest level since Oct. 6

** The exchange on Saturday said its Q4 consolidated net profit fell by 85% YoY while its income from ops rose 25.6% YoY

** Total expenses more than doubled, mainly led by software support charges and product license fees which increased nearly 5-times

** Brokerage Motilal Oswal says the cost increase was due to a higher payout for extending the contract with 63moons

** Stock's MACD line below the signal line since April 11, indicating a bearish bias

** More than 541,000 shares change hands by 10:59 a.m. IST, 2.1x 30-day avg

** Avg rating of 10 analysts close to equivalent of "buy", median PT is 1,600.00 rupees - Refinitiv data

** Including session's loss, stock down ~15.5% YTD

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Multi Commodity Exchange of India MCEI.NS fall as much as 5.88% to 1,400.15 rupees, mark their sharpest intraday pct loss since Feb 6

** Co said on Tuesday Chief Technology Officer Shashank Sathe has tendered his resignation

** In the interim, Chief Digital Officer N. Rajendran has been advised to look after the portfolio of the CTO, MCEI added

** Brokerage Motilal Oswal in March and Feb noted it had flagged the higher software costs due to delay in technology migration to TCS' software after it had downgraded stock from "buy" to "neutral" nL4N34N1D9

** More than 272,000 shares change hands, 1.4x 30-day avg of 192,289 shares

** Seven of 10 analysts covering the stock have a "buy" or "strong buy" rating, one has "hold" while two rate it at "sell"; median PT is 1,500 rupees - Refinitiv data

** Stock down 4.28% YTD, as of last close, vs Nifty 500 index .NIFTY500 which is down 3.19%

(Reporting by Ashish Chandra in Bengaluru)

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