Financial Technologies (India) is trading lower by 5% at Rs 134, extending its previous day’s 7% fall, after National Spot Exchange Limited (NSEL), a subsidiary of the company defaulted on payments to its investors.
On Tuesday, 20 August 2013, NSEL could not honour the first part of measly Rs 174 odd crore payments from its Rs 5,500 crore liability.
The Financial Technologies-promoted exchange, NSEL in its settlement plan submitted to the Forward Markets Commission (FMC) had committed a pay-out of Rs 174.72 crore to investors, received only Rs 92.12 crore until Tuesday evening, the newspaper report suggests.
The stock opened at Rs 127 and hit a low of Rs 113 on BSE. A combined 5.83 million shares changed hands till noon deals on BSE and NSE.
On Tuesday, 20 August 2013, NSEL could not honour the first part of measly Rs 174 odd crore payments from its Rs 5,500 crore liability.
The Financial Technologies-promoted exchange, NSEL in its settlement plan submitted to the Forward Markets Commission (FMC) had committed a pay-out of Rs 174.72 crore to investors, received only Rs 92.12 crore until Tuesday evening, the newspaper report suggests.
The stock opened at Rs 127 and hit a low of Rs 113 on BSE. A combined 5.83 million shares changed hands till noon deals on BSE and NSE.
