MCX

Holds a dominant ~96% market share in commodity futures in FY24, including 100% in precious metals. Short-term: Expect elevated volatility as market digests Q1 trends and waits for execution on new products.. Risks Weak volumes, disappointing Q1 earnings, failure to launch new derivatives. Valuation: Premium P/E reflects market dominance and earnings quality—but still offers upside if growth sustains.