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Financial Technologies India (FTIL) is trading 4% higher at Rs 279, extending its over 20% rally in past two trading sessions, after offloaded stake in Multi Commodity Exchange (MCX) for about Rs 154 crore in the open market.
On July 17, MCX's erstwhile promoter FTIL said it has further sold 2.04 million equity shares, amounting to 4% stake in the commodity bourse, through open market route.
The shares were sold on average price of Rs 752.83 apiece on NSE valuing the transaction at Rs 153.64 crore, as per data available with the stock exchanges. However, the identity of buyer(s) of the shares could not be ascertained immediately.
Post the above selling, the Company's shareholding in MCX has come down to 20%, which is under lock-in till March 07, 2015, it added.
Last week, FTIL had sold nearly 2% stake in MCX. The shares were purchased by ace investor Rakesh Jhunjhunwala. Prior to that, FTIL had 26% holding in the commodity bourse.
The stock opened at Rs 271 and touched a high of Rs 285 on NSE. A combined 1.15 million shares changed hands on the counter so far on NSE and BSE.
In past two trading sessions, the stock has rallied nearly 30% from Rs 221 on July 14 compared to 2.5% rise in benchmark CNX Nifty. Meanwhile, MCX is also trading higher by 3.4% at Rs 776, after falling 2.5% on Wednesday. The stock opened at Rs 748 and touched a high of Rs 779 so far on NSE.
On July 17, MCX's erstwhile promoter FTIL said it has further sold 2.04 million equity shares, amounting to 4% stake in the commodity bourse, through open market route.
The shares were sold on average price of Rs 752.83 apiece on NSE valuing the transaction at Rs 153.64 crore, as per data available with the stock exchanges. However, the identity of buyer(s) of the shares could not be ascertained immediately.
Post the above selling, the Company's shareholding in MCX has come down to 20%, which is under lock-in till March 07, 2015, it added.
Last week, FTIL had sold nearly 2% stake in MCX. The shares were purchased by ace investor Rakesh Jhunjhunwala. Prior to that, FTIL had 26% holding in the commodity bourse.
The stock opened at Rs 271 and touched a high of Rs 285 on NSE. A combined 1.15 million shares changed hands on the counter so far on NSE and BSE.
In past two trading sessions, the stock has rallied nearly 30% from Rs 221 on July 14 compared to 2.5% rise in benchmark CNX Nifty. Meanwhile, MCX is also trading higher by 3.4% at Rs 776, after falling 2.5% on Wednesday. The stock opened at Rs 748 and touched a high of Rs 779 so far on NSE.
