You are here: Home » Markets » News
Business Standard

Financial Technologies soars on heavy volumes

The stock has rallied 60% so far in current month as compared to 6% rise in Sensex

SI Reporter  |  Mumbai 

Financial Technology

Financial Technologies (India) has soared over 26% at Rs 183 in noon deals on back of heavy volumes.

The stock opened at Rs 145 and touched a low of Rs 141 on NSE. A combined 12 million shares change hands on the counter till 1300 hours against an average sub 7 million shares that were traded daily in past two weeks on NSE and BSE.

Shares of the embattled Financial Technologies (India), the promoter of the National Spot Exchange, have rallied 60% so far in current month from Rs 114 on August 30, after the company said it will seek shareholder approval to raise Rs 1,000 crore to fund its future growth opportunities.

The board of directors has already approved the proposal and is being placed before the shareholders for approval in the forthcoming annual general meeting to be held on September 25 in Chennai.

Financial Technologies (India) intends to explore all the fund-raising opportunities, including international and domestic public offerings, Global Depository Receipts, American Depository Receipts and any other security linked to shares in both the domestic and international

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, September 11 2013. 13:02 IST