FTIL, MCX shares plunge on stock exchange probe

Shares of Jignesh Shah-led Financial Technologies (India) Ltd (FTIL) and MCX today fell sharply

RELATED ARTICLES

amid a probe initiated by CBI into grant of license to MCX Stock Exchange over five years ago.

MCX-SX was set up by FTIL and MCX, but they have been now classified as 'public shareholders' as against 'promoters' earlier, pursuant to a Sebi-ordered restructuring of its board and governance structure.

A day after CBI registered a Preliminary Enquiry (PE) against FTIL and MCX as also two former top Sebi officials in a matter related to the grant of license to MCX-SX, the shares of the two listed companies fell sharply this morning.

FTIL was down 3.6 per cent at Rs 364.40, while shares of commodity exchange MCX were trading 4.6 per cent lower at Rs 491.95 at the BSE in late morning trade.

The group has been facing trouble ever since National Spot Exchange Ltd (NSEL), another entity set up by the same promoters, got engulfed in a major payment crisis putting a question mark on their 'fit and proper' status to run an exchange.

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E-mail ID will not be published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

  • It will take at least 4 more quarters for corporate bottomlines to turn around

    Aggregate numbers from corporate results in the June quarter of 2014-15 are hardly different from the previous six quarters, with no positive surprise

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

Dealing with a sin called insensitivity

Rage and the notion of being above the law — ...

Kuruvilla Pandikattu SJ

India’s greatest gift to the world

What we hear most often about India these days is ...

Gautam Gupta

Why must innerwear be our best kept secret?

While women’s outerwear rules the marketing roost in India, unfortunately, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture