Financial Technologies tanks 80% in 2-days on institutional selling
Reliance Capital Trustee Co Ltd A/C Reliance Growth Fund had sold majority of its stake in FT through bulk deals.
Shares of financial technologies group, Financial Technologies (India) (FT) and Multi Commodity Exchange of India (MCX) continue to be under hammer second day in a row, falling over 20% each today, after FT-promoted National Spot Exchange (NSEL) suspended trading in all contracts except "e-series" until further notice because of poor volumes on the exchange following a government order.
FT has tanked 45% to Rs 106, its lowest level since November 2004, on BSE. The stock has plunged 80% from Rs 542 in past two trading sessions.
MCX too, locked in lower circuit of 20% second consecutive day at Rs 410, trading at its lowest level since listing.
FT has tanked 45% to Rs 106, its lowest level since November 2004, on BSE. The stock has plunged 80% from Rs 542 in past two trading sessions.
MCX too, locked in lower circuit of 20% second consecutive day at Rs 410, trading at its lowest level since listing.
On Thursday, Reliance Capital Trustee Co Ltd A/C Reliance Growth Fund had sold majority or 1.19 million shares of FT through bulk deals.
Reliance Capital Trustee Co Ltd A/C Reliance Growth Fund sold 780,925 shares at Rs 213.73 on the NSE and sold 4,10,530 shares at Rs 211.89 on the BSE. The fund house held 1.87 million or 4.06% stake, as on June 30, 2013, BSE data shows.
BMF Frontline Equity Fund had also sold 521,810 shares of FT at Rs 271.66 on the NSE.
As on June 30, the funds of Blackstone, Citi Venture, Reliance Capital, Acacia Partners and other large investors hold about 30% in FT.
MCX has even higher institutional holding, with investors such as the government of Singapore, HDFC Bank; National Stock Exchange, Bennett, Coleman & Co and Intel Capital holding about 1% each.
Also Read: Stock is sufficient to cover overall exposure: Anjani Sinha
Reliance Capital Trustee Co Ltd A/C Reliance Growth Fund sold 780,925 shares at Rs 213.73 on the NSE and sold 4,10,530 shares at Rs 211.89 on the BSE. The fund house held 1.87 million or 4.06% stake, as on June 30, 2013, BSE data shows.
BMF Frontline Equity Fund had also sold 521,810 shares of FT at Rs 271.66 on the NSE.
As on June 30, the funds of Blackstone, Citi Venture, Reliance Capital, Acacia Partners and other large investors hold about 30% in FT.
MCX has even higher institutional holding, with investors such as the government of Singapore, HDFC Bank; National Stock Exchange, Bennett, Coleman & Co and Intel Capital holding about 1% each.
Also Read: Stock is sufficient to cover overall exposure: Anjani Sinha