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MCX hits upper circuit, up nearly 50% from record low

MCX was trading at Rs 355, rallied around 50% from record low of Rs 238 touched on August 19 on BSE.

SI Reporter  |  Mumbai 

Multi Commodity Exchange of India (MCX) has hit its upper circuit for the ninth consecutive trading session, up 5% at Rs 355 on the Bombay Stock Exchange (BSE) with no sellers.

A combined 18,352 shares have changed hands on the counter and there are pending buy orders for 1.76 million shares on BSE and NSE (National Stock Exchange) at 1045 hours.

The counter has rallied nearly 50% from its record low of Rs 238 registered on August 19 this year, after the company said it has no exposure to crisis-hit National Spot Exchange Limited (NSEL), which had to settle dues worth Rs 5,600 crore to investors.

MCX and NSEL are totally different entities with no financial commitments or exposure to each other whatsoever. The company is in full compliance with the directive of the Forward Commission (FMC), the commodity regulator, on investments, loans and advances.

The company said it is a debt-free company and has a net worth of Rs 1,214 crore in the quarter ended June 30.

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First Published: Thu, August 29 2013. 10:50 IST