Financial Technologies gains on signing fresh tech deal with MCX
The stock rallied 7% to Rs 217 on the Bombay Stock Exchange.
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Financial Technologies (India) has surged 7% to Rs 217 the company said it concluded the renegotiation of technology supply agreement with Multi Commodity Exchange of India (MCX).
Financial Technologies (India) has informed the Bombay Stock Exchange (BSE) the company’s board of directors at its meeting held on September 25, 2014, have approved Master Amendment to Principal Agreements (Agreement) to be entered into with MCX for continued provisions of software support & managed services on mutually agreed terms & conditions.
Renegotiated terms have not been mentioned in the filing to the BSE.
It is also to be noted that by entering into the above said Agreement, the companies have completed all the condition precedents of share purchase agreement with Kotak Mahindra Bank as disclosed on July 20, 2014, it added.
The stock opened at Rs 203 and hit a high of Rs 222 on BSE. A combined around 460,000 shares changed hands on the counter so far on BSE and NSE.
Financial Technologies (India) has informed the Bombay Stock Exchange (BSE) the company’s board of directors at its meeting held on September 25, 2014, have approved Master Amendment to Principal Agreements (Agreement) to be entered into with MCX for continued provisions of software support & managed services on mutually agreed terms & conditions.
Renegotiated terms have not been mentioned in the filing to the BSE.
It is also to be noted that by entering into the above said Agreement, the companies have completed all the condition precedents of share purchase agreement with Kotak Mahindra Bank as disclosed on July 20, 2014, it added.
The stock opened at Rs 203 and hit a high of Rs 222 on BSE. A combined around 460,000 shares changed hands on the counter so far on BSE and NSE.
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First Published: Sep 26 2014 | 11:47 AM IST