MUMBAI Shares in Multi Commodity Exchange of India(MCEI.NS) surged on Monday. Private sector lender Kotak Mahindra Bank(KTKM.NS) agreed to buy a 15 percent stake in the company for 4.59 billion rupees ($76.1 million), the bank said in a statement late on Sunday.
Kotak will purchase the stake from bourse operator Financial Technologies (India) Ltd (FITE.NS) and the deal is subject to regulatory approvals, the statement said.
MCX shares were trading up nearly 7 percent as of 2:35 p.m.
Trending On Reuters
The Reserve Bank of India (RBI) kept its key lending rate unchanged on Tuesday, leaving the door open for more easing but making that dependent on meeting a challenging inflation target for 2017. Full Article