 "Financial Technologies gains 10% on heavy volumes")
Financial Technologies India has surged 10% to Rs 198, extending its previous day’s 6% gain, on back of heavy volumes on the National Stock Exchange (NSE).
A combined 2.51 million shares changed hands on the counter in first one-and-half-hour of trading on NSE and BSE.
The stock zoomed 46% from its 52-week low of Rs 136 touched during intra-day on Wednesday.
On Tuesday the government proposed a merger of the National Spot Exchange (NSEL) with the company.
On October 20, the ministry of corporate affairs issued a draft notification, which said merging the two companies would combine assets and capital of the two and could allow the "satisfactory settlement of rights and liabilities of stakeholders and creditors of NSEL".
FTIL said it is taking appropriate steps in the matter in consultation with the legal Counsel of the company.
A combined 2.51 million shares changed hands on the counter in first one-and-half-hour of trading on NSE and BSE.
The stock zoomed 46% from its 52-week low of Rs 136 touched during intra-day on Wednesday.
On Tuesday the government proposed a merger of the National Spot Exchange (NSEL) with the company.
On October 20, the ministry of corporate affairs issued a draft notification, which said merging the two companies would combine assets and capital of the two and could allow the "satisfactory settlement of rights and liabilities of stakeholders and creditors of NSEL".
FTIL said it is taking appropriate steps in the matter in consultation with the legal Counsel of the company.