FTIL rallies 5% on signing technology contract with MCX

Shares of Financial Technologies (India) Ltd rose by 5 per cent after Multi Commodity Exchange said it has entered into a new agreement with FTIL for availing software support and managed services till 2022.
FTIL's stock climbed 4.99 per cent to settle at Rs 228.30 on the BSE. During the day, it jumped 8 per cent to Rs 235.
At the NSE, the scrip gained 4.11 per cent to end at Rs 226.90.
Shares of MCX too were up 3.73 per cent to Rs 815.85.
The pact (supplementary agreement), inked on mutually agreed terms, marks continuation of technology partnership between the two companies, founded by entrepreneur Jignesh Shah, and comes as a shot in the arm for the commodity bourse as it seeks to launch fresh contracts.

In a filing to the BSE, MCX said the agreement was entered into with several changes.
As per the new agreement, MCX will pay FTIL a fixed charge of Rs 1.5 crore per month, including managed services payable in advance on semi-annual basis. Earlier, it was paying Rs 2 crore per month.