MCX slides after Jignesh Shah's arrest

Tags: Stock Market
Multi Commodity Exchange of India Ltd (MCX) falls 4.4 percent after earlier hitting its lowest since March 14 because of uncertainty over shareholder Financial Technologies (India) Ltd's ongoing stake sale.

Financial Technologies is in the midst of selling its 26 percent stake in MCX, but traders cite concerns about the process after the chairman of the Indian bourse operator, Jignesh Shah, was arrested by police on Wednesday as part of an investigation of fraud at another commodity exchange.

Financial Technologies (India) Ltd slumps 5 percent, or its daily lower limit.

EDITORIAL OF THE DAY

  • Public sector banks need to be independent of govt ownership

    The RBI, in its financial stability report released last week, has flagged off concerns about the deteriorating asset quality of public sector banks.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture