Search Now


Friday, August 30, 2013

Happy days are here again for MCX

Shares of Multi Commodity Exchange of India ( MCX) hit an upper circuit of 5% for the ninth consecutive trading session, at Rs355.20 on the Bombay Stock Exchange (BSE) with no sellers.
The counter has rallied nearly 50% from its record low of Rs238 registered on August 19 this year, after the company said it has no exposure to crisis-hit National Spot Exchange Limited ( NSEL), which had to settle dues worth Rs5,600 crore to investors.
MCX and NSEL are totally different entities with no financial commitments or exposure to each other whatsoever. The company is in full compliance with the directive of the Forward Markets Commission (FMC), the commodity markets regulator, on investments, loans and advances.
The company is a debt-free company and has a net worth of Rs1,214 crore in the quarter ended June 30.
At 3.15 pm, MCX was trading at Rs355.20, up by 5.00%, with a volume of 2210 shares trading on BSE.