MCX jumps 10% to trade near two-year high, rallies 52% in 7 months

The stock has risen sharply from its 52-week low of Rs 644, touched on February 19, 2019, and has outperformed the frontline index by surging 52 per cent in the past seven months.

Shares of the Multi Commodity Exchange of India Ltd. (MCX) surged 10 per cent, to trade nearly two-year high of Rs 1,030, on the BSE on Tuesday on back of heavy volumes. The stock was trading at its highest level since November 2, 2017.

Volumes surged after foreign brokerage Morgan Stanley upgraded the rating on MCX to overweight from equal-weight, and raised its price target to Rs 1,260 from Rs 870 per share.

The stock has risen sharply from its 52-week low of Rs 644, touched on February 19, 2019, and has outperformed the frontline index by surging 52 per