MCX rallies over 11% as Kotak Mahindra Bank agrees to buy stake

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Shares of Multi Commodity Exchange (MCX) rose over 11 per cent in early trade on Bombay Stock Exchange (BSE) after the private sector lender Kotak Mahindra Bank agreed to buy a 15 per cent stake in the company for Rs 459 crore.

The shares of company rose as much as 11.03 per cent to trade at Rs 873 a piece on the BSE.

In a similar fashion, shares of the company rose 11.22 per cent to Rs 874.75 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 25,836.19, up 194.63 points or 0.76 per cent at 10.45 hours.

Story first published: Monday, July 21, 2014, 12:50 [IST]
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