Shares of the Multi Commodity Exchange (MCX) is locked in upper circuit for eleven straight trading sessions, up 5% at Rs 476 on BSE, has been double in less than a month.
The stock hit all-time low of Rs 238 on August 19, after the National Spot Exchange (NSEL), a group company, suspended electronic trading.
However, MCX has clarified that the company has no exposure to crisis-hit NSEL, which had to settle dues worth Rs 5,600 crore to investors.
MCX and NSEL, both promoted by Jignesh Shah-headed Financial Technologies India, are totally different entities with no financial commitments or exposure to each other whatsoever.
The company said it is in full compliance with the directive of the Forward Markets Commission (FMC), the commodity markets regulator, on investments, loans and advances.
The company is a debt-free company and has a net worth of Rs 1,214 crore in the quarter ended June 30, it added.
Meanwhile, according to market buzz a leading investment bank is advising Financial Technologies, the promoter which held 26% stake in the company, on a possible stake sale in MCX.
A combined 7,521 shares have changed hands on the counter and there are pending buy orders for 319,488 shares on BSE and NSE at 0944 hours.
The stock hit all-time low of Rs 238 on August 19, after the National Spot Exchange (NSEL), a group company, suspended electronic trading.
However, MCX has clarified that the company has no exposure to crisis-hit NSEL, which had to settle dues worth Rs 5,600 crore to investors.
MCX and NSEL, both promoted by Jignesh Shah-headed Financial Technologies India, are totally different entities with no financial commitments or exposure to each other whatsoever.
The company said it is in full compliance with the directive of the Forward Markets Commission (FMC), the commodity markets regulator, on investments, loans and advances.
The company is a debt-free company and has a net worth of Rs 1,214 crore in the quarter ended June 30, it added.
Meanwhile, according to market buzz a leading investment bank is advising Financial Technologies, the promoter which held 26% stake in the company, on a possible stake sale in MCX.
A combined 7,521 shares have changed hands on the counter and there are pending buy orders for 319,488 shares on BSE and NSE at 0944 hours.
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