MCX Share Price: Shares of Multi Commodity Exchange of India Ltd are in action after getting the market regulator Sebi's approval to launch electricity derivatives. The counter opened gap up at Rs 7,498.70 on the BSE against the previous close of Rs 7,419.65. It gained further amid buying and hit a fresh 52-week high of Rs 7,970, a gain of 7.41 per cent. Last seen, the counter held firmly in green at Rs 7,880.30.
On the NSE, the stock started today's session at Rs 7,568.50 against the previous close of Rs 7,418. It hit a new lifetime high of Rs 7,971 crore.
Stock has been gaining for the last nine days and has risen 23.38 per cent in the period. It is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
MCX Announces Launch Of Electricity Derivatives
The Multi Commodity Exchange of India Ltd. has received approval from the Securities and Exchange Board of India (SEBI) to launch Electricity Derivatives. According to MCX, this marks a significant milestone in the evolution of India’s Energy trading landscape.
The commodity bourse said in a statement that the electricity derivatives contracts to be introduced by MCX will help power distribution companies and large consumers hedge against price volatility and manage price risks more effectively by enhancing efficiency in the power market.
"These contracts will offer participants a reliable, transparent, and regulated platform to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms," Praveena Rai, MD & CEO of MCX, said.
MCX Share Price History
The stock has given a multibagger return of 501 per cent in three years and 410 per cent in two years. In one year, the counter has made its investors richer by 117 per cent.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)