MCX shares tumble nearly 8 per cent after CTO resigns

Shares of Multi Commodity Exchange of India (MCX) tumbled nearly 8 per cent in the mid-session trade on Wednesday after its Chief Technology Officer Shashank Sathe resigned from the company.

The firm’s scrip tanked 7.77 per cent to Rs 1,372.10 apiece on the NSE. On the BSE, it plunged 7.71 per cent to Rs 1,373 per piece.

In the mid-session trade, the 30-share BSE Sensex was trading at 63.36 points or 0.11 per cent higher at 60,194.07 points.

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In a regulatory filing on Tuesday, MCX said that Shashank Sathe has tendered his resignation from the post of Chief Technology Officer (CTO) of the company on account of personal reasons and for better prospects.

In the interim, Dr N Rajendran, Chief Digital Officer of the company has been advised to look after the portfolio of the CTO, the commodity exchange added.