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MCX slides as CFO quits

Capital Market 

MCX declined 2.4% to Rs 1110.85 after the company informed about the resignation tendered by Sanjay Wadhwa, chief financial officer.

Commodity bourse, MCX announced that Sanjay Wadhwa ceased to be the chief financial officer and a key managerial personnel of MCX with effect from close of business hours on Friday, 6 December 2019.

Sanjay Wadhwa was appointed as the CFO for a three-year term on 23 January 2017.

On consolidated basis, MCX reported a 99.7% rise in net profit to Rs 71.75 crore on a 55% rise in total income to Rs 144.53 crore.

On the technical front, the stock's RSI (relative strength index) stood at 43.761. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day and 200-day moving average (DMA) placed at 1099.07 and Rs 886.70 respectively.

MCX is engaged in facilitating trading, and clearing and settlement of commodity derivatives. It operates as a commodity futures exchange.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 09 2019. 14:30 IST
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