MCX Q4 Review - Market Leadership, New Products To Drive Earnings: ICICI Direct
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ICICI Direct Report
Multi Commodity Exchange of India Ltd. reported a moderation in average daily turnover (ADTO) attributable to upfront margin requirement impacting volume.
Operational performance remained healthy led by steady revenue and controlled opex.
Volatility in other income and tax advantage in base year led to decline in earnings.
ADTO in commodity futures on the exchange declined 13% to Rs 31,823 crore in Q4 FY21, due to increase in regulatory requirement of upfront margin partially offset by higher gold priced compared to last year.
Markets share in commodity futures space has remained strong at 96.04% in FY21.
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