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Financial Technologies India (FTIL) is locked in upper circuit of 10% at Rs 271, also its highest level since August, with no sellers are seen on the counter in otherwise weak market on the Bombay Stock Exchange (BSE).The stock is currently trading at its highest level since 1 August 2013, seen huge trading activity.
A combined 10.02 million shares changing hands till noon deals against an average 5 million shares that were traded daily in past two weeks on the BSE and NSE. There are pending buy orders for around 444,000 shares on both the exchanges.
Shares of Jignesh Shah-led FTIL are on a roll, and have rallied 45% in past three trading sessions amid reports that the company is selling its stake in National Bulk Handling Corporation and Multi Commodity Exchange of India (MCX). However, the company declined to comment on both the issues.
Meanwhile, according to media reports, the market regulator the Securities and Exchange Board of India (Sebi) has summoned FTIL for a hearing today to defend its stance as a shareholder in MCX Stock Exchange Ltd (MCX-SX).
Sebi in December had issued a show cause notice to FTIL questioning its 'fit and proper' status to run the stock exchange.
FTIL owns 4.99% stake in MCX-SX and also warrants, along with MCX, amounting to nearly 69% stake post conversion. FTIL will have to reduce its shareholding in the stock exchange substantially if Sebi declares it not 'fit and proper', the Business Standard report suggests.
A combined 10.02 million shares changing hands till noon deals against an average 5 million shares that were traded daily in past two weeks on the BSE and NSE. There are pending buy orders for around 444,000 shares on both the exchanges.
Shares of Jignesh Shah-led FTIL are on a roll, and have rallied 45% in past three trading sessions amid reports that the company is selling its stake in National Bulk Handling Corporation and Multi Commodity Exchange of India (MCX). However, the company declined to comment on both the issues.
Meanwhile, according to media reports, the market regulator the Securities and Exchange Board of India (Sebi) has summoned FTIL for a hearing today to defend its stance as a shareholder in MCX Stock Exchange Ltd (MCX-SX).
Sebi in December had issued a show cause notice to FTIL questioning its 'fit and proper' status to run the stock exchange.
FTIL owns 4.99% stake in MCX-SX and also warrants, along with MCX, amounting to nearly 69% stake post conversion. FTIL will have to reduce its shareholding in the stock exchange substantially if Sebi declares it not 'fit and proper', the Business Standard report suggests.
