Archive · 29 Sep 2026
MCX Appoints Ramesh Varakhedkar as Chief Business Officer
MCX has hired Ramesh Varakhedkar as its new Chief Business Officer.
His job will involve helping the exchange grow its business.
He previously worked in commodities at ICICI Securities Ltd.
He has also worked at several other financial companies and banks.
MCX is adding more products for people who trade commodities.
These products include natural gas and crude oil options.
On Monday, MCX shares fell to Rs 3,266.
However, the shares were still up about 48.87% so far in 2026.
An analyst report expects MCX revenue to grow as more investors participate and new products are introduced.
MCX appointed Ramesh Varakhedkar as its Chief Business Officer.
Varakhedkar previously led the commodities business at ICICI Securities Ltd.
He has also worked at Karvy Stock Broking Ltd, Metropolitan Stock Exchange Ltd, Citibank and ICICI Bank.
MCX has expanded its commodity offerings, including natural gas and crude oil options.
MCX shares fell 1.77% to Rs 3,266 on Monday, despite gaining about 48.87% in 2026.
- Who
- MCX and Ramesh Varakhedkar.
- What
- MCX appointed Varakhedkar as Chief Business Officer.
- When
- The appointment was reported alongside MCX’s Monday trading update; the article does not specify the appointment date.
- Where
- At MCX, the commodity exchange.
- Why
- The appointment comes as MCX expands its commodity-market offerings and introduces new products.
- Appointment
- Ramesh Varakhedkar was appointed Chief Business Officer of MCX.
- Previous role
- He was Head – Commodities Business at ICICI Securities Ltd.
- Education
- He completed programmes at IIM Ahmedabad and IM Calcutta and holds a postgraduate diploma in Marketing and Sales and a Bachelor’s degree in Science.
- Monday closing price
- MCX shares ended at Rs 3,266.
- Monday price change
- The stock fell 1.77% from the previous close of Rs 3,325.
- 2026 performance
- The stock had gained around 48.87% so far in 2026.
- Revenue outlook
- A Macquarie report estimated MCX revenue could grow at a 19% compound annual growth rate through FY30.