I’m long at approx avg price of 723. The reasoning is very simple
At approx 4000cr mcap - you can’t build another exchange which will replace MCX and gain meaningful volumes
It has approx 90% share in a winner takes all market
Requires no more capital infusion till perpetuity
Can be run by a dumb management, high IQ not required
Willing to buy more as price drops.
Arguments against buying: http://alphaideas.in/wp-content/uploads/2014/09/Why-I-Still-Dont-Like-MCX.pdf sums it up. Though, I don’t feel so strongly against MCX. It’s not really comparable to the likes of VST or casinos. I have friends who are trading metals and they need MCX to hedge. They don’t take delivery, but that’s beside the point. Hedging is crucial to business and MCX is the only way.
Disc: Long, biased