Archive · 12 Dec 2025
India's Exchanges BSE, MCX, IEX Show Strong Growth
India's stock exchanges, BSE, MCX, and IEX, are doing really well.
More people are trading, and the exchanges are making more money.
BSE is doing great with lots of new investors and better technology.
MCX is also growing, especially in commodities like gold and silver.
IEX, which trades electricity, is growing steadily but its stock price has gone down a bit.
All three exchanges are benefiting from more activity and new products.
Investors are excited, but they need to be careful because these companies are regulated and can be affected by government rules.
BSE reported a 40% YoY revenue increase to Rs 1,139 crore in Q2, driven by derivatives, new listings, and retail investor participation.
MCX saw a 29% YoY revenue increase to Rs 401 crore, with higher activity in bullion and base metals.
IEX reported a 9.2% YoY revenue increase to Rs 183.3 crore, with electricity volumes rising 16% YoY.
BSE and MCX are trading above their five-year median EV/EBITDA multiples, reflecting strong earnings and high investor interest.
IEX's current EV/EBITDA multiple is below its five-year median, indicating a potential entry point for investors.
- Who
- BSE, MCX, and IEX are the major exchanges in India.
- What
- These exchanges are experiencing significant growth due to increased market activity and participation.
- When
- The reported growth is based on the second quarter of the fiscal year 2026.
- Where
- The exchanges operate primarily in India, with BSE and MCX based in Mumbai and IEX in New Delhi.
- Why
- The growth is driven by increased retail participation, new product offerings, and technological advancements.
- BSE Revenue (Q2)
- Rs 1,139 crore
- BSE Net Profit (Q2)
- Rs 558 crore
- MCX Revenue (Q2)
- Rs 401 crore
- MCX Profit After Tax (Q2)
- Rs 197 crore
- IEX Revenue (Q2)
- Rs 183.3 crore
- IEX Profit After Tax (Q2)
- Rs 123.4 crore
- BSE Share Price Change (1Y)
- 45.8%
- MCX Share Price Change (1Y)
- 48.2%
- IEX Share Price Change (1Y)
- -25.1%
- BSE EV/EBITDA
- 41.8
- MCX EV/EBITDA
- 51.7
- IEX EV/EBITDA
- 20.4