August 5, 2013 / 5:38 AM / 4 years ago

India's Financial Tech shares extend gains ahead of news briefing

MUMBAI, Aug 5 (Reuters) - Shares of India's Financial Technologies (India) Ltd rose as much as 45 percent on Monday, extending gains ahead of a news briefing by Chairman and CEO Jignesh Shah scheduled for 1200 India time (0630 GMT).

Dealers cited speculation about whether Shah would unveil measures to address concerns at unit National Spot Exchange Ltd after the commodities exchange suspended trading in most of its forward contracts last week.

A Financial Technologies spokesman confirmed the news briefing but declined to say what it would be about.

Shares in Financial Technologies were up 37 percent at 1058 am (0528 GMT). The financial technology provider slumped 73 percent in the previous two sessions. (Reporting by Abhishek Vishnoi; Writing by Rafael Nam; Editing by Prateek Chatterjee)

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