MCX share price hits record high; stock up 120% in 1 year

Share Price , Multibagger Stock : Multi Commodity Exchange (MCX) shares are in action today (June 25), surging more than 7 per cent to hit a record high. MCX shares opened with gains of Rs 109 or more than 1 per cent at Rs 8325 on NSE against the previous close of Rs 8216. The counter extended the opening gains and went on to make a new high of Rs 8808, up Rs 592 apiece or 7.20 per cent. At 2:45 PM, the counter held firmly in the green to quote 5.50 per cent higher at Rs 8667. As many as 25.71 lakh shares of the company changed hands around the same time. MCX shares are trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Today's heavy buying in MCX shares came after UBS reiterated its 'buy' call and raised the target price by Rs 3000 apiece. UBS has set a fresh target of Rs 10000 on MCX shares, up from Rs 7000. The brokerage said that it has raised the target price amid favourable market dynamics and new product launches.