Financial Technologies (India) has tanked nearly 35% to Rs 111 in early morning deals on BSE, on reports that a top stockbrokers threatened to seek legal recourse if the National Spot Exchange Ltd (NSEL) was unable to repay its dues to the brokers and investors.
The stock opened at Rs 152 and has seen a combined 2.55 million shares change hands on the counter till 0930 hours.
Top brokers on Tuesday went all out in their attack on the Financial Technologies group and promoter Jignesh Shah over the crisis surrounding NSEL. Four broker associations accused the FT group of keeping them in the dark on the progress in dues settlement.
Arguing that exchange cannot escape its financial obligations, the brokers called for the government to take over Financial Technologies and MCX till the "NSEL mess is cleared".
Multi Commodity Exchange of India (MCX), on other hand, currently trading at its lowest level since listing, down 5% at Rs 254 with no buyers on the counter.
The stock opened at Rs 152 and has seen a combined 2.55 million shares change hands on the counter till 0930 hours.
Top brokers on Tuesday went all out in their attack on the Financial Technologies group and promoter Jignesh Shah over the crisis surrounding NSEL. Four broker associations accused the FT group of keeping them in the dark on the progress in dues settlement.
Arguing that exchange cannot escape its financial obligations, the brokers called for the government to take over Financial Technologies and MCX till the "NSEL mess is cleared".
Multi Commodity Exchange of India (MCX), on other hand, currently trading at its lowest level since listing, down 5% at Rs 254 with no buyers on the counter.