MCX spurted 7.17% to Rs 417 at 9:25 IST on BSE after the company said that the Forward Markets Commission has cleared private equity major Blackstone's proposal for increasing its stake in the company.
The announcement was made before trading hours today, 18 December 2013.
Meanwhile, the BSE Sensex was up 57.83 points, or 0.28%, to 20,669.97.
On BSE, so far 2.02 lakh shares were traded in the counter, compared with an average volume of 2.13 lakh shares in the past one quarter.
The stock hit a high of Rs 423.60 and a low of Rs 401.50 so far during the day. The stock hit a record low of Rs 238.30 on 19 August 2013. The stock hit a 52-week high of Rs 1,537 on 20 December 2012.
The stock had underperformed the market over the past one month till 17 December 2013, falling 10.90% compared with the Sensex's 1.04% rise. The scrip had also underperformed the market in past one quarter, sliding 12.37% as against Sensex's 4.08% rise.
The small-cap company has an equity capital of Rs 51 crore. Face value per share is Rs 10.
MCX announced that Forward Markets Commission (FMC) has accorded its approval to Blackstone GPV Capital partners (Mauritius) VI FII to increase its stake in the company upto 4.99% through secondary market transaction.
As on 30 September 2013, Blackstone GPV Capital Partners Mauritius VI FII held 10.19 lakh shares, or 2% stake, in MCX.
MCX's net profit fell 66.8% to Rs 27.05 crore on 38% decline in net sales to Rs 81.23 crore in Q2 September 2013 over Q2 September 2012.
MCX is a dominant player in commodity exchanges in India. Its market share stood at 89% in the first half of the fiscal year ending March 2014.
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