Multi Commodity Exchange of India jumped 8.35% to Rs 1142.25 at 12:14 IST on BSE after Finance Minister Arun Jaitley in Union Budget 2015-16 today, 28 February 2015 said that FMC will be merged with Securities and Exchange Board of India.
Meanwhile, the S&P BSE Sensex was up 224.17 points or 0.77% at 29,444.29.
On BSE, so far 6.24 lakh shares were traded in the counter as against average daily volume of 3.89 lakh shares in the past two weeks.
The stock hit a high of Rs 1,154 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 1,023 so far during the day.
Finance Minister Arun Jaitley in his first full-fledged Union Budget 2015-16 today, 28 February 2015 said that the government proposes to merge Forward Markets Commission (FMC) with market regulator Securities and Exchange Board of India (Sebi). While Sebi is the regulator for the capital markets, the FMC oversees commodities markets. Among other things, Jaitley said that this will help 'reduce wild speculation'.
Multi Commodity Exchange of India (MCX)'s net profit rose 5.2% to Rs 22.97 crore on 6.1% decline in net sales to Rs 52.70 crore in Q3 December 2014 over Q3 December 2013.
MCX is India's first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.
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