MCX shares plunge 8% after Q4 results

Meanwhile, its operating revenue climbed 35% to Rs 181.14 crore in Q4 against Rs 133.75 crore in the March 2023 quarter. EBITDA came at Rs 120.33 crore in Q4 against Rs 22.15 crore in the corresponding quarter of the previous fiscal.

The MCX saw its margins expand sharply to 56.3% from 1.6% during the same period of the previous fiscal.

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The company also declared a final dividend of Rs 7.64 per equity share for FY24.

The recommended dividend will be approved by the shareholders at the 22nd Annual General Meeting. The company is yet to announce the date of the AGM, record date and eligibility of shareholders.

At 11:01 am, the stock was trading 6% lower at Rs 3,787 on BSE. However, the stock has delivered significant returns to its investors, having rallied over 150% in the last one year and more than 170% in the past two years.

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As per Trendlyne data, the average target price of the stock is Rs 3,570, which shows a downside potential of 5% from the current market prices. The consensus recommendation from 9 analysts for the stock is a 'Hold'.

In technical terms, the relative strength index (RSI) of the stock is currently at 67.6, signalling it's neither trading in the overbought nor the oversold territory. Additionally, the MACD is at 80.9, which is above its centre and signal line, this is a bullish indicator.

MCX stock stood higher than the 20-day, 30-day, 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs), while lower than 5-day and 10-day SMAs.

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