Shares of Financial Technologies surged 5 per cent today after a report that the company and Tech Mahindra are in discussions for a possible deal.
Jignesh Shah-led Financial Technologies (India) Ltd is the holding entity of National Spot Exchange Ltd, which is grappling with a Rs 5,600 crore payment crisis.
Financial Technologies shares gained 4.99 per cent to Rs 326.20, the day's high, at the close on the BSE.
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The report suggested that the company and Tech Mahindra are in discussions for a deal.
Financial Technologies said in a regulatory filing today that as a company policy it does not wish to comment on any speculative news article.
"Hence we would not like to offer any comments on the said news reporting and also on the price rise of the company's share," the filing said.
Any definitive development of any substantive nature would be first notified to the stock exchanges in full compliance with the listing agreement, Financial Technologies said.
Tech Mahindra said the report is "speculative in nature," according to a BSE filing. Tech Mahindra shares gained 1.2 per cent.
