Markets

MCX shares jump 6% as Jhunjhunwala picks up 2% stake

PTI Mumbai | Updated on July 09, 2014

Shares of Multi Commodity Exchange of India today jumped 6 per cent after ace investor Rakesh Jhunjhunwala purchased nearly two per cent stake in the commodity bourse for over Rs 66 crore.

Shares of the company opened the day on a positive note and further gained 5.98 per cent to Rs 720.40 on the BSE. On the NSE, the scrip surged 6 per cent to Rs 720.

Rakesh Jhunjhunwala had yesterday purchased nearly two per cent stake in commodity bourse MCX for over Rs 66 crore, as its erstwhile promoter FTIL diluted its holding from 26 per cent to 24 per cent.

MCX’s erstwhile promoter Financial Technologies (India) Ltd (FTIL) has sold 10.19 lakh shares, amounting to two per cent stake in the commodity bourse.

Jhunjhunwala picked up 10 lakh shares of Multi Commodity Exchange (MCX) on an average price of Rs 664 apiece, data available with stock exchanges showed yesterday. This values the transaction at Rs 66.4 crore.

Published on July 09, 2014

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like