Jignesh Shah's Financial Technologies share price soars nearly 11 pct to Rs 246 on report of stake sale in firm

Written by PTI | Mumbai | Updated: Jan 7 2014, 15:17pm hrs
Financial TechnologiesFinancial Technologies share price jumped to Rs 246.80 as Jignesh Shah-led co desperately seeks cash. (Reuters)
Jignesh Shah-led Financial Technologies' share price jumped nearly 11 per cent today to Rs 246.80 amid reports that the company is selling stake in National Bulk Handling Corporation.

However, Financial Technologies (India) Ltd (FTIL) declined to comment on the issue.

"As a policy of the company, we do not wish to comment on rumours or any speculative news items, hence we would not like to offer any comments on the said news reporting," the firm said in a regulatory filing with regard to reports that it is to sell stake in National Bulk Handling Corp for Rs 300 crore.

Earlier in the day, shares of Financial Technologies India Ltd (FTIL) gained 10.65 to close at Rs 246.80 on the BSE. In intra-day trading, the scrip touched a high of Rs 260.70.

Financial Technologies has diverse business interests, including running various multi-asset class exchanges and is currently embroiled in a controversy over related company National Spot Exchange Limited (NSEL) scam default payment to the tune of Rs 5,600 crore, referred generally as a scam.