Shares of Financial Technologies today hit a record low on reports of merger with NSEL.
The exchanges operator stock fell as much as 16.5 per cent to a record low of Rs 75.10.
According to a media report, the stock plunged after the government ordered the merger with National Spot Exchange (NSEL).
Merger of NSEL with its parent firm FITE is the first case of the government ordering the merger of two private sector companies, the report said.
The Central Government has invoked merger clause in companies law to force the organisation to assume NSEL’s outstanding liabilities.
The stock is down about 5 per cent; volume of shares touched twice its 30-day average in the first 30 minutes of trade.
Published on February 15, 2016
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