Multi Commodity Exchange of India rose 8.06% to Rs 1,158 at 12:28 IST on BSE after the company hiked transaction charges for investor trades on its platform.
The company made the announcement ysterday, 26 September 2016.Meanwhile, the BSE Sensex was up 98.71 points, or 0.35%, to 28,392.99.
On BSE, so far 3.93 lakh shares were traded in the counter, compared with average daily volume of 49,502 shares in the past one quarter. The stock hit a high of Rs 1,181.35 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,075 so far during the day. The stock hit a 52-week low of Rs 726 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 8.76% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.18% as against Sensex's 6.67% rise.
The mid-cap commodity exchange has equity capital of Rs 51 crore. Face value per share is Rs 10.
For trading in non-agricultural commodities, Multi Commodity Exchange of India (MCX) has increased the transaction fee to Rs 2.60 for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 350 crore. Incremental turnover above Rs 350 crore would attract a charge of Rs 1.75 per lakh. In the case of agriculturural commodities, MCX has increased the transaction charges to Rs 1.75 for every Rs 1 lakh turnover.
The transaction fee shall be debited on a monthly basis to the settlement account of the members in the first week of the succeeding month. The above said transaction fee structure will be effective for trades executed from 1 October 2016 onwards and will be valid till further notice.
Earlier on 26 February 2014, MCX had slashed transaction charges. MCX charged 75 paise for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 20 crore for trading in agricultural commodities. Incremental turnover above Rs 20 crore attracted a charge of 50 paise per lakh. In the case of non-agriculturural commodities, MCX charged Rs 2.10 for every Rs 1 lakh turnover, for members generating average daily turnover of up to Rs 350 crore, and Rs 1.40 per lakh on incremental turnover above Rs 350 crore.
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MCX's net profit rose 54.5% to Rs 32.81 crore on 12.5% rise in net sales to Rs 58.23 crore in Q1 June 2016 over Q1 June 2015.
MCX is India's first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.
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