Shares of Multi Commodity Exchange of India (MCX) plummeted 12.5% after a delay in the delivery of trading software by Tata Consultancy Services (TCS) forced MCX to continue using its existing vendor, 63 Moons Technologies. MCX had hired TCS to replace the software provided by 63 Moons, but the transition has been postponed several times. The shift to the new platform is now expected to occur in June 2023. Despite the delay, analysts believe that once the transition is complete, MCX's operating profits will increase and result in margin expansion.
