MCX rallies 8% on merger talks with NSE

The stock rallied 8% to Rs 775 after the media report suggested that the company has entered into merger talks with the NSE ahead of the implementation of the universal exchange framework in October.

Shares of Multi Commodity Exchange of India (MCX) have rallied 8% to Rs 775 per share on the BSE in early morning  trade after media reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.

The two entities are planning to approach market regulator Securities and Exchange Board of India (Sebi) as early as this month, according to an official. The merger will help NSE and MCX cement their leadership position both in the equities and commodity derivatives space, the Business Standard reported. CLICK HERE TO READ FULL REPORT

At 09:39 am; MCX was trading 6% higher at Rs 762 on the BSE, as compared to 0.43% rise in the S&P BSE Sensex. A combined 398,087 equity shares changed hands on the counter on the BSE and NSE so far.