Regulatory tailwinds may reverse MCX's poor show, spur price discovery

Stock yet to reward investors; volatility in sales, profit numbers have been pain points

Commodity trading has witnessed a number of changes in India. From being a select investor group’s domain, it has now opened up for all. Trading volumes, product categories, and trading interest, too, have been rising steadily. Yet, a lot of these don’t reflect in the financials of Multi Commodity Exchange (MCX) — India’s largest commodity trading platform — which is a monopoly in the segment. Trading at Rs 765 apiece, the stock has been a laggard for those who had invested during its initial public offering (IPO) by betting on