MMTC revives plan to sell stake in ICEX due to tepid trading performance

MMTC, which owns 9.55% equity, had thought of retaining the stake after ICEX's merger with NMCE and and the beginning of diamond futures

State owned trading company MMTC Ltd has revived plans to offload stake in Indian Commodity Exchange Ltd (ICEX), following tepid trading performance by the exchange and volatility surrounding commodity markets. MMTC currently owns 9.55 per cent equity in the bourse. 

“We had thought of retaining stake in ICEX after its merger with the NMCE (National Multi Commodity Exchange) and the beginning of diamond futures trade. But the trade volumes are not satisfactory. More, being a minor equity participant does not make much business sense for us. Now, we are looking for a consultant to steer us in the equity sale