India's MCX Shares Surge to Record as UBS Sees 20% Upside
Shares of Multi Commodity Exchange of India Ltd. surged to a record after UBS Group AG raised its outlook on the stock, expecting the bourse operator to benefit from swings in global commodity prices and new product launches.
The stock rallied more than 7% on Wednesday, extending its year-to-date gains to nearly 40%. UBS raised its 12-month price target to 10,000 rupees ($116.12), implying over 20% upside from Tuesday's close.
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