MCX stock ends 7% up as RBI lifts curbs on foreign investors

Shares of Multi Commodity Exchange (MCX) on Monday settled with nearly seven per cent gains after the Reserve Bank removed restriction imposed on foreign investors on buying equity shares in MCX.

The stock climbed 6.9 per cent to end the day at Rs 916.60 on the BSE exchange. It touched a high of Rs 934 intra-day.

On the National Stock Exchange (NSE), it jumped 7.4 per cent to settle at Rs 920.45.

On the volume front, 201,000 shares changed hands on BSE, while over 1.35 million shares traded at NSE.

The aggregate share holdings in MCX by foreign institutional investors (FIIs) or registered foreign portfolios investors (FPIs) have gone below the prescribed threshold caution limit stipulated under the extant FDI (foreign direct investment) policy, the Reserve Bank of India said in a notification on Friday.

Hence, the restrictions placed on the purchase of shares of the company are withdrawn with immediate effect, it had said.

Accrodng to the data available on the BSE, public holding in the company was 99.64 per cent as of March 2016, while the rest 0.36 per cent was held by others.