Multi Commodity Exchange of India (MCX) shares rallied 5% to hit a 52-week high of Rs 2,215 on 16 October as trading commenced on the company’s new software platform.

MCX unveiled its web-based commodity derivatives platform on 10 October, after which the company received approval from the Sebi technology panel. Initially, the project was witnessing repeated delays with the market regulators.

The platform went live on 16 October and continues to perform without any glitches so far.

Initially, on 15 October, the exchanges hosted a mock trading session to help members participate and validate their setup and connections.

The plans to go live with the new platform were also taken well by the investors as the stock rallied and reached a new all-time high following this announcement on 11 October.

In a period of a month, the shares of the company have gained more than 22%.

At 3:30 pm, the shares of MCX closed at Rs 2,191.40 or 3.86% above its previous close on NSE.