I dont think 10crs/day revenue number is likely anytime soon.
that achievement will require multiple levers. Rally in the last one month was because of bullion market. once this euphoria subsides we need to see what we settle at.
keep an eye out for the UCC number in the results. that is the most important matrix for sustainable growth for the company.
for any trading market to develop you need all 3 speculators, retail and institution. hence im emphasising the UCC number. I believe that this recent rally would have brought in a lot of new traders to the commodity market. the new management is taking lots of new initiatives to widen the market participation (thats the most encouraging bit).
Lets see the results and hear out the mgmt commentory .
Price volatility would more help mcx than just rise.
So coming 12 month would bring more trade and revenue to mcx
July 4.56crs/day 23 trading days
Aug 4.66crs/day 20 trading days
Sep 6.29crs/day 22 trading days
Oct 9.50crs/day 22 trading days
Nov 6.31crs/day 05 trading days
need to keep an eye on the Active client numbers. Active clients went up to 7.9L from 7.0 need to track this number closely. I feel that the recent rally in bullion will bring in lots of new participants. Also, large prop trading frims are also moving to MCX. Excerpts from ShareIndia Securities q2 concall.
dont think Nov is degrowth. rather Oct was exceptional. lets look at this way.
For 2025
Jan-Mar 4.1-4.2crs/day Avg
Apr-June 5.2-5.3crs/day Avg
July-Sep 5.15-5.22crs/day Avg
Frenzy on Oct25 around gold and silver price and their life time high helped mcx. I see gold price going higher. Silver has also broken out of 50$ marka agin. This q could be 50 rs eps.
