Financial Tech up; BofA-Merrill unit buys stake

Tags: Companies
Shares in Financial Technologies (India) Ltd gain after a Bank of America-Merrill Lynch unit bought a 0.51 per cent stake in the trading software provider via a bulk deal on Wednesday, India's National Stock Exchange data shows.

Merrill Lynch Capital Markets Espana S.A. SVB bought 235,461 shares of the company at 347.76 rupees a share, in a transaction worth 81.88 million rupees.

Financial Technologies last week appointed a committee to propose and oversee a restructuring plan that includes finding a stratgegic partner and selling an up to 24 percent stake in the Multi Commodity Exchange of India Ltd (MCX).

Financial Technologies has been under scrutiny after the commodities regulator deemed the company not fit to run MCX and ordered it to liquidate most of its stake in the company.

Shares in Financial Technologies were trading up nearly 5 per cent at 12.15 p.m.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture