FMC allows Kotak Mahindra Bank to buy 15% in MCX
Source: IRIS | 27 Aug, 2014, 12.46PM
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Multi Commodity Exchange of India (MCX) announced that Forward Market Commission (FMC) has conveyed its approval to Kotak Mahindra Bank (KMB) for its proposed acquisition upto 15% of equity shares capital of MCX.  Shares of MCX gained Rs 10.5, or 1.29%, to trade at Rs 825.95. The total volume of shares traded was 228,460 at the BSE (12.34 p.m., Wednesday).
The stock had underperformed the market over the past one month till Aug. 26, 2014, falling 11.65% compared with the Sensex's 1.21% rise. It underperformed the market in past one quarter, declining 5.40% as against 6.98% rise in the Sensex.
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