Shanghai Futures Exchange Warehouse Stocks Weekly
COPPER: DOWN 5279
ALUMINIUM: DOWN 9224
ZINC: UP 497
LEAD: UP 649
RUBBER: UP 73...
Friday, December 27, 2013
You are here:HomeMarket MCX sinks 9% after board asks promoter FTIL to cut stake
1:27 PM
alphaadvisory
Shares of Multi Commodity Exchange (MCX) and Financial Technologies fell
sharply on Friday after the board of MCX asked promoter FTIL to reduce
its stake to 2 per cent, in accordance with the regulator's order.
MCX fell as much as 9 per cent to Rs. 431, while FTIL shares fell 6.67 per cent to a low of Rs. 161.50.
Last week, the Forward Markets Commission (FMC) had issued an order
declaring FTIL and its chief Jignesh Shah unfit to run any exchange,
including the MCX, following a Rs. 5,600 crore payment crisis at group company National Spot Exchange Ltd (NSEL).
The regulator said Shah was the "highest beneficiary of the fraud perpetrated" at NSEL.
The NSEL, which is promoted by FTIL, has been defaulting on payments to
13,000 investors. It plunged into the payment crisis after halting...
Posts
