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Jun 26, 02:20 PM
UBS Raises Multi Commodity Exchange Target to Rs 10,000 from Rs 7,000 as Shares Gain Over 4% and Meta Target Hits $812
India
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UBS Raises Multi Commodity Exchange Target to Rs 10,000 from Rs 7,000 as Shares Gain Over 4% and Meta Target Hits $812

Authors
  • Bloomberg
  • Business Standard
  • CNBC-TV18
8

UBS has raised its target price for Multi Commodity Exchange of India (MCX) shares to Rs 10,000, up from Rs 7,000, maintaining a 'buy' rating. This marks the highest-ever target price assigned by UBS, supported by volume growth and expectations that MCX will benefit from global commodity price fluctuations and new product launches. Following the upgrade, MCX shares surged over 4% to hit a record high, with a 120% increase over the past year. Separately, UBS also raised its target price for Meta Platforms Inc. to $812 from $683 while maintaining a buy rating. Other market movements include Dixon Technologies shares rising over 4%, Hitachi Energy shares increasing 2% after securing a deal with Power Grid Corporation, and Safe Enterprises listing at a 9% premium on the NSE SME platform. Mayasheel Ventures debuted positively with shares listing at a 23% premium. Mahindra Lifespace Developers shares rallied up to 4.63% to an intraday high of Rs 378, 360 One WAM shares rose 3% following a bulk deal purchase by New World Fund, and Western Carriers shares jumped 6% on a Rs 230 crore order from Jindal Stainless.

Written with ChatGPT (GPT-4).

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