FTIL jumps after paring stake in IEX

Financial Technologies (India) rose 4.83% to Rs 103.05 at 12:20 IST on BSE after the company said it entered into two different agreements for sale of additional 3.63% stake in Indian Energy Exchange for nearly Rs 100 crore.

The announcement was made after trading hours yesterday, 9 November 2015.

Meanwhile, the BSE Sensex was down 192.61 points, or 0.74%, to 25,928.79.

On BSE, so far 1.37 lakh shares were traded in the counter, compared with an average volume of 1.21 lakh shares in the past one quarter.

The stock hit a high of Rs 105.75 and a low of Rs 99 so far during the day. The stock hit a 52-week high of Rs 239 on 4 December 2014. The stock hit a 52-week low of Rs 95.45 on 9 November 2015.

The stock had underperformed the market over the past one month till 9 November 2015, sliding 13.89% compared with 3.54% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 38.64% as against Sensex's 7.49% decline.

The small-cap company has an equity capital of Rs 9.22 crore. Face value per share is Rs 2.

Financial Technologies (India) (FTIL) said it has entered into an agreement with SG BRIC III Trading, LLC for selling 1.61% stake sale in Indian Energy Exchange (IEX) for Rs 34.64 crore and with Singuler Guff NJDM Investment Holdings for selling 3.02% stake in IEX for Rs 64.99 crore.

With conclusion of the above transactions, FTIL will have only 0.37% stake in IEX.

Financial Technologies (India) reported net loss of Rs 34.99 crore in Q2 September 2015 as against net profit of Rs 327.42 crore in Q2 September 2014. Net sales rose 2.05% to Rs 38.80 crore in Q2 September 2015 over Q2 September 2014.

FTIL is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets. It is a global leader in creating and operating next-generation tech-centric financial exchanges.

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