MCX price drops 20 pc to 2,400 on go-live

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MCX price drops 20 pc to 2,400 on go-live

Despite today's drop, the market price of MCX has outperformed the market in the past one month by surging 20 per cent as against 0.95 per cent gain in the S&P BSE Sensex. It is possible that CFMA's writ petitions on CDP are pending before the Madras High Court for disposal. MCX said it has advised the exchange to keep the proposed GoLive of CDP in abeyance. As the Exchange is ready and eager to go-live as soon as permitted, the Exchange will continue to conduct CDP mock tests till further directions in the matter from Sebi, MCX said. HDFC Securities analysts maintain a 'buy' rating on MCX, with a target price of 2,400 per share.