Multi Commodity Exchange of India’s (MCX) board has asked promoter Financial Technologies India (FTIL) to reduce its stake to 2%, in accordance with the regulator’s order.
The board of directors of the company, at its meeting held on December 26, 2013, decided to advise FTIL to implement Forward Markets Commission (FMC) Order dated December 17, 2013 by reducing its stake in the Company from 26% to 2% or below, within a period of 1 month hereof.
Last week, the FMC had issued an order declaring FTIL and its chief Jignesh Shah unfit to run any exchange, including the MCX, following Rs 5,500 crore payment crisis at group company National Spot Exchange (NSEL).
| Company Name | CMP |
|---|---|
| Motilal Oswal Fin | 757.10 |
| Angel One | 280.70 |
| IIFL Capital Service | 282.55 |
| Nuvama Wealth | 1296.30 |
| Share India Sec. | 143.10 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: