MCX shares up nearly 4% on bourses

Tags: MCX, Stock Market
Shares of Multi Commodity Exchange of India today rose by nearly 4 per cent as FTIL received non-binding bids from 9 top corporates for buying its 24 per cent stake in the bourse.

Stocks of MCX went up by 3.90 per cent to settle at Rs 584.15 on the BSE. During the day, the scrip gained 7.45 per cent to Rs 604.15.

The stock ended 3.93 per cent up at Rs 584.50 on the NSE.

FTIL is making all efforts to complete the sale of its stake in MCX by April 25 and has called for a Board meeting on that day to finalise the bidders, FTIL had said last week.

Jignesh Shah-promoted FTIL has to reduce its stake in MCX to 2 per cent from the current 26 per cent to comply with the regulatory norms following the NSEL payment crisis of Rs 5,600 crore.

FTIL has appointed a committee to oversee its restructuring plan, which includes divesting its take in MCX.

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