 "MCX surges as RBI permits FIIs to buy stake")
Multi Commodity Exchange of India (MCX) was trading higher by 7% to Rs 917 on the BSE in noon deals in otherwise subdued market, after the company announced that the Reserve Bank of India (RBI) withdrawn the restrictions placed on purchase of the company's shares by foreign institutional investors (FIIs) and registered foreign portfolio investors (RPFIs) with immediate effect.
The RBI said the aggregate shareholding of FIIs/RPIs under portfolio investment scheme in Multi Commodity Exchange of India has gone below the prescribed threshold caution limit stipulated as per the current foreign direct investment (FDI) policy.
"Hence, the restrictions placed on the purchase of shares the above company withdrawn with immediate effect. The equity shares of MCX can now be purchased through primary market and stock exchanges," it added.
The stock hit a high of Rs 934 and has seen nearly five-fold jump in trading volumes. A combined 1.23 million shares changed hands on the counter on the BSE and NSE. At 12:54 pm, the S&P BSE Sensex was down 0.23% at 25,244 points.
The RBI said the aggregate shareholding of FIIs/RPIs under portfolio investment scheme in Multi Commodity Exchange of India has gone below the prescribed threshold caution limit stipulated as per the current foreign direct investment (FDI) policy.
"Hence, the restrictions placed on the purchase of shares the above company withdrawn with immediate effect. The equity shares of MCX can now be purchased through primary market and stock exchanges," it added.
The stock hit a high of Rs 934 and has seen nearly five-fold jump in trading volumes. A combined 1.23 million shares changed hands on the counter on the BSE and NSE. At 12:54 pm, the S&P BSE Sensex was down 0.23% at 25,244 points.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%