MCX shares decline for third straight session on profit booking after record-breaking run

Shares of Multi Commodity Exchange of India (MCX) fell for third straight session on Thursday, June 12 on account of profit boking after the National Stock Exchange of India (NSE) on Wednesday said it has received the approval from markets regulator Sebi to launch monthly electricity futures contracts.

MCX shares staged their its longest winning streak of nine sessions in nearly two months, data from BSE showed.

MCX shares gained for nine consecutive sessions starting May 28 to June 9 during which MCX shares advanced as much as 25% to hit record high of ₹8,033.30 on the BSE.

The sharp surge in MCX shares came after SEBI approved its move to launch electricity derivatives contracts.

The Electricity Derivatives Contracts to be introduced by MCX will enable generators, distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market, MCX had said earlier this month.

"This landmark move positions MCX as a torchbearer of innovation in commodity trading, while reinforcing India’s ambition towards sustainable energy and capital market development. It also marks a pivotal step toward deepening India’s energy markets and aligns with the broader vision of ‘Viksit Bharat’," MCX added.

Meanwhile, in the last three trading sessions, MCX shares declined as much as 6.50% from its record high as investors turned to profit booking after witnessing decent gains, analysts said.

MCX Q4 earnings

MCX posted 54.15% jump in its consolidated net profit to ₹135.46 crore for the fourth quarter of the 2024-25 fiscal year (Q4 FY25) on higher income.

The company reported a net profit of ₹87.87 crore a year ago, a regulatory filing said.

Total income rose by 60.68% to ₹320.49 crore during the March quarter of 2024-25 from ₹199.45 crore logged a year ago.

Expenses rose to ₹152.96 crore from ₹92.96 crore in the said period.

For the full 2024-25 fiscal year, the company reported a more than six-fold jump in consolidated net profit to ₹560.04 crore as against ₹83.11 crore in the previous year.

The board recommended a final dividend of ₹30 per equity share for the 2024-25 fiscal.

As of 11:21 am, MCX shares traded 0.67% lower at ₹7,623 underperforming the BSE500 index which was down 0.4%.