MCX gains; Kotak Mahindra Bank agrees to buy stake

Tags: Companies
Shares in Multi Commodity Exchange of India surged on Monday. Private sector lender Kotak Mahindra Bank agreed to buy a 15 percent stake in the company for 4.59 billion rupees ($76.1 million), the bank said in a statement late on Sunday.

Kotak will purchase the stake from bourse operator Financial Technologies (India) Ltd and the deal is subject to regulatory approvals, the statement said.

MCX shares were trading up 7.1 percent as 9:30 a.m.

EDITORIAL OF THE DAY

  • India's engagement with Iran looks iffy without Farzad gas deal

    India’s quest for West Asian oil is not going to come too easy, anytime soon.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

Time ripe for state funding of elections

Prime minister Narendra Modi had laid strong emphasis on improved ...

Rajgopal Nidamboor

The resonant cadence of our being

The real voyage of discovery,” wrote Marcel Proust, the French ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture