MCX stock closes over 13% higher on report of merger talks with NSE

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MCX stock closes over 13% higher on report of merger talks with NSE

The Multi Commodity Exchange of India (MCX) stock rose more than 15% to Rs 833 intra day, its biggest daily percentage gain in over 2 months on buzz of merger talks with National Stock Exchange. The stock closed 13.79% or 99.20 points higher at 818.80 level.  Its market capitalisation rose to Rs 4175.75 crore. The stock has gained after six days of consecutive fall. It has fallen 10.30% since the beginning of this year. During the last one year, the stock is down 17.49%.

Earlier, Business Standard reported that both entities were in merger talks ahead of the implementation of the universal exchange framework in October. Both entities plan to approach market regulator Securities and Exchange Board of India as early as this month, the report added. Neither MCX nor NSE officials were immediately available for comment.

 With inputs from Reuters

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