MCX stock reached an all-time high, driven by a surge in gold and silver prices and strong volume growth in bullion contracts. Following a five-for-one stock split effective January 2, the exchange's valuation has expanded significantly, with shares rising nearly 80% in 2025. Brokerages like Motilal Oswal and Morgan Stanley have raised their earnings estimates and target prices, reflecting a re-rating of the stock's price-to-earnings multiple.