MCX shares rise on NCDEX stake sale

Nov 19 2013, 12:16 IST
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After rallying to R523.3, the MCX stock closed the session at R512.95, up R76.25 or 17.5%. Reuters After rallying to R523.3, the MCX stock closed the session at R512.95, up R76.25 or 17.5%. Reuters
SummaryMCX shares surged on reports that a stake sale in rival NCDEX took place at premium.

on their dealings with MCX due to its links to Financial Technologies (FTIL), they have no substitute for MCX that accounts for the large portion of the total commodity derivatives trade.

While FTIL owns nearly 100% stake in NSEL, it holds 26% in the MCX as an anchor investor.

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