Multi Commodity Exchange of India jumped 7.37% to Rs 921 at 10:45 IST on BSE after the Reserve Bank of India removed the restrictions placed on purchase of the company's shares by foreign institutional investors with immediate effect.
The Reserve Bank of India (RBI) made the announcement after trading hours on Friday, 20 May 2016.Meanwhile, the BSE Sensex was up 9.97 points, or 0.04%, to 25,311.87.
On BSE, so far 69,926 shares were traded in the counter, compared with an average volume of 45,025 shares in the past one quarter. The stock hit a high of Rs 934 and a low of Rs 884.35 so far during the day. The stock had hit a 52-week high of Rs 1,188.60 on 23 July 2014. The stock had hit a 52-week low of Rs 726 on 12 February 2016. The stock had outperformed the market over the past one month till 20 May 2016, gaining 2.24% compared with the Sensex's 2.1% fall. The scrip had also outperformed the market in past one quarter, rising 14.59% as against Sensex's 6.72% gains.
The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.
The RBI said that the aggregate shareholding of foreign institutional investors (FIIs) in Multi Commodity Exchange of India (MCX) has gone below the prescribed threshold caution limit stipulated as per the current foreign direct investment (FDI) policy.
Multi Commodity Exchange of India (MCX)'s net profit fell 45% to Rs 27.10 crore on 3.5% rise in net sales to Rs 55.60 crore in Q4 March 2016 over Q4 March 2015.
MCX is India's first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.
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