2 weeks ago
Jefferies Buy recommendations on MCX, Gateway Distriparks and Nykaa
Sometimes smart people called stock analysts study companies and guess whether their value will go up or down.
A company called Jefferies is one of these analyst groups.
Jefferies looked at three companies in India and said it thinks all three will do well.
When analysts think a stock will go up, they say 'Buy' and tell people they think it is a good deal.
The three companies are MCX, Gateway Distriparks and Nykaa.
MCX is a marketplace where people trade things like gold and other commodities.
Gateway Distriparks moves containers and runs rail freight.
Nykaa is a shop, mostly online, that sells beauty products and clothes.
Jefferies thinks MCX may grow if more foreign investors are allowed to join in, Gateway may grow by adding new capacity and railway connections, and Nykaa is growing fast and getting more profitable.
Jefferies believes the three stocks could rise by 17% to 25%, but these are just guesses and could change.
Jefferies issued 'Buy' ratings on MCX, Gateway Distriparks and Nykaa, implying upside of 25%, 23% and 17%, respectively.
MCX's price target of Rs 3,600 rests on SEBI's proposals to widen foreign portfolio investor participation in commodity derivatives, which could add 3% to profit after tax.
Gateway Distriparks' price target was raised to Rs 74, driven by capacity additions and Dedicated Freight Corridor connectivity expected to support an 11% CAGR in rail volumes.
Nykaa's price target was raised to Rs 400 from Rs 350 after a 'Beautiful Quarter' with beauty gross merchandise value up about 28% and fashion gross merchandise value up more than 50% year-on-year.
Nykaa's customer base grew about 33% to 60 million and its beauty-store network reached 324 stores across 105 cities.
- Who
- Jefferies, a brokerage, issued recommendations on Indian companies Multi Commodity Exchange of India (MCX), Gateway Distriparks and FSN E-Commerce Ventures (Nykaa).
- What
- 'Buy' ratings with price targets implying potential upside of 17% to 25% for the three stocks.
- Where
- India, where all three companies are listed.
- When
- Reports dated August 4, 5 and 12, 2026.
- Why
- Jefferies sees distinct growth triggers: wider foreign portfolio investor participation in commodity derivatives (MCX), capacity expansion and rail-volume growth (Gateway) and sustained growth with improving profitability (Nykaa).
Key facts
- Brokerage
- Jefferies
- Ratings
- 'Buy' on MCX, Gateway Distriparks and Nykaa
- Price targets
- Rs 3,600 (MCX), Rs 74 (Gateway Distriparks), Rs 400 (Nykaa)
- Implied upside
- 25% (MCX), 23% (Gateway), 17% (Nykaa)
- Report dates
- August 4, 5 and 12, 2026
- Nykaa customer base
- About 60 million, up ~33% in the quarter
- Nykaa beauty stores
- 324 stores across 105 cities
- Gateway Indore ICD
- Under construction, 120,000 TEU capacity, completion targeted by 2028
Quotes
Jefferies
Analyst team at Jefferies Research
“"Similar participation in non-cash/non‑contracts could add 3% to MCX’s PAT."”
financialexpress.com
Sources
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