Shares of Multi Commodity Exchange of India Limited (MCX) is locked in upper circuit of 5% at Rs 255 on BSE, in otherwise weak market; after the company said it has no exposure to crisis-hit National Spot Exchange Limited (NSEL), which had to settle dues worth Rs 5,600 crore to investors after it suspended trading.
The stock opened at Rs 240 and hit a record low of Rs 238 on BSE. A combined 1.41 million shares changed hands on the counter so far and there are pending buy orders for 172,987 shares on BSE and NSE at 0947 hours. The stock has tanked nearly 70% from its recent high of Rs 742 touched in July this year.
"MCX and NSEL are totally different entities with no financial commitments or exposure to each other whatsoever," MCX Managing Director and CEO Shreekant Javalgekar said in a filing with the BSE.
MCX is in full compliance with the directive of the Forward Markets Commission (FMC), the commodity markets regulator, on investments, loans and advances, it said in the filing.
MCX is a debt-free company and has a net worth of Rs 1,214 crore in the quarter ended June 30, the filing added.
The stock opened at Rs 240 and hit a record low of Rs 238 on BSE. A combined 1.41 million shares changed hands on the counter so far and there are pending buy orders for 172,987 shares on BSE and NSE at 0947 hours. The stock has tanked nearly 70% from its recent high of Rs 742 touched in July this year.
"MCX and NSEL are totally different entities with no financial commitments or exposure to each other whatsoever," MCX Managing Director and CEO Shreekant Javalgekar said in a filing with the BSE.
MCX is in full compliance with the directive of the Forward Markets Commission (FMC), the commodity markets regulator, on investments, loans and advances, it said in the filing.
MCX is a debt-free company and has a net worth of Rs 1,214 crore in the quarter ended June 30, the filing added.
