Financial Technologies: Laxmi Shankar Mankekar buys seven lakh shares

Written by PTI | Mumbai | Updated: Mar 14 2014, 02:10am hrs
Well-known investor Laxmi Shankar Mankekar today picked up seven lakh shares in Jignesh Shah-led Financial Technologies (FTIL) for over Rs 27 crore through open market route.

The shares were purchased from Om Kedar Investments.

According to information available with the bourses, Mankekar bought seven lakh shares in Financial Technologies (India) Ltd (FTIL) at an average price of Rs 389 valuing the transaction at Rs 27.23 crore.

Mankekar and his family have shares in many Indian companies, including M T Educare.

Financial Technologies India Ltd's scrip closed the day 4.35 per cent lower at Rs 378. In intra-day, the stock lost as much as 4.99 per cent to Rs 375.

Earlier this week, FTIL had invited expression of interest for divestment of its 24 per cent stake in group's commodity exchange MCX. At present, FTIL has 26 per cent stake in MCX.