Multi Commodity Exchange of India rose 0.62% to Rs 829.35 at 11:45 IST on BSE after the company announced that its subsidiary Multi Commodity Exchange Clearing Corporation will commence operations from 3 September 2018.
The announcement was made after market hours yesterday, 30 August 2018Meanwhile, the S&P BSE Sensex was down 81.53 points or 0.21% at 38,608.57
On BSE, so far 13,000 shares were traded in the counter, compared with average daily volume of 36,000 shares in the past two weeks. The stock hit a high of Rs 839.45 and low of Rs 825.40 so far during the day. The stock hit a 52-week high of Rs 1,159.90 on 13 October 2017. The stock hit a 52-week low of Rs 665 on 6 February 2018.
The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.
Multi Commodity Exchange Clearing Corporation (MCXCCL), a wholly owned subsidiary of Multi Commodity Exchange of India (MCX) will commence operations from 3 September 2018.
MCXCCL is the first clearing corporation in the commodity derivatives market in India. The company will provide secure counterparty risk management and post-trade services that would help mitigate risks. It will be the central counterparty for all trades executed on MCX. At the time of commencement MCXCCL will have a Settlement Guarantee Fund (SGF) of over Rs 230 crore.
MCX reported 72.13% slide in consolidated net profit to Rs 7.33 crore on 2.07% fall in total income to Rs 85.43 crore in Q1 June 2018 over Q1 June 2017.
MCX is India's first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. Various commodities across segments are traded on the exchange platform. These include bullion, energy, metals and agri commodities.
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