Synopsis: Shares of Multi-Commodity Exchange (MCX) of India plunged by 80% today after it adjusted for its stock split in the ratio 5:1 as earlier announced by the management.
The shares of this leading commodity exchange trading service provider, holding a staggering market share of nearly 99 percent in the commodity futures market are in focus after it adjusted for its 5:1 stock split, which was earlier announced by its management. In this article, we will dive more into the details.
With a market capitalisation of Rs 57,502 crore, the shares of Multi Commodity Exchange of India Ltd reached a day’s high of Rs 2,277 per share, up 4 percent from its previous day’s closing price of Rs 2,197.70 per share.
About the Adjustment
As of January 2, 2026 (today), MCX shares have had their share price adjusted to reflect the stock split adjustment that occurred today. Currently, MCX share prices are trading at Rs 2,265 per share, and any investor who held MCX shares as of today automatically received the appropriate new number of shares posted to their demat account. The total value of your investment remains the same.
MCX earlier announced a stock split, citing that for every single share you own with a face value of Rs 10, you’ll get five shares, each with a face value of Rs 2 (5:1 ratio). The record date was fixed as January 2, 2026. This means that if you hold MCX shares on the record day, you’ll automatically see more shares in your account. Your total investment won’t change, just the number of shares and their price.
The stock split will not change the fundamentals or the market capitalisation of MCX; rather, it will decrease the price per share while at the same time it will increase the number of shares in circulation, thereby making the MCX stock more affordable to individual investors and improving the liquidity of the shares being traded.
MCX reported a core revenue of Rs 374 crore in Q2 FY26, a decline of 31 percent as compared to Rs 286 crore in Q2 FY25. Additionally, it grew slightly by 0.27 percent from Rs 373 crore in Q1 FY26.
Regarding profitability, it reported a net profit of Rs 197 crore in Q2 FY26, a 28 percent growth from Rs 154 crore in Q2 FY25. However, it recorded a decline of 3 percent from Rs 203 crore in Q1 FY26.
MCX managed to achieve a significant Average Daily Turnover growth of 87 percent YoY to Rs 4.11 lakh crore in Q2 FY26 from Rs 2.20 lakh crore in Q2 FY25. The biggest surprise was the bullion segment, which jumped by a staggering 445 percent YoY, to Rs 2.34 lakh crore in Q2 FY26 from just Rs 42,864 crore in Q2 FY25, led by the explosive growth of gold and silver derivatives.
The food (agri) segment also saw a sharp 161 percent increase, to Rs 38 crore in Q2 FY26 from Rs 15 crore in Q2 FY25. Energy turnover went up by 1 percent only and thus remained almost unchanged, while the base metals and the index segment dropped 25 percent and 64 percent respectively. The massive increase in bullion and the steady momentum in energy were the main reasons for the strong overall YoY turnaround.
The Multi-Commodity Exchange of India Limited (MCX) stands out as a premier commodity derivatives exchange in India, facilitating online trading in a variety of commodities such as bullion, metals, energy, and agricultural products. Additionally, MCX has formed strategic partnerships with global exchanges like CME, LME, Dalian, EEX, and more, fostering knowledge sharing and promoting global integration.
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