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MMTC rises nearly 5% as board approves ICEX stake sale

By Religare
|

Shares of MMTC rose nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) after the trading firm told the stock exchanges that it would sell a 10 per cent stake in the commodity bourse ICEX equally to two bidders, who participated in the recently concluded global tender. The state-run company has been looking for investors to offload its 26 per cent stake in the commodity bourse, Indian Commodity Exchange (ICEX), which wound up its operations towards the end of 2013.

 

Following the development, shares of company surged 4.74 per cent in intra-day trade to Rs 44.20 apiece on the BSE.

In a similar trend, shares of the company gained 4.99 per cent to Rs 44.20 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,261.98, up 69 points, or 0.26 per cent, at 11:13 hours.

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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