Merrill Lynch buys 2.35 lakh shares in Financial Technologies

Global financial services firm Merrill Lynch on Wednesday picked up 2.35 lakh shares in Jignesh Shah-led Financial Technologies for over Rs 8 crore through open market route.

Merrill Lynch Capital Markets Espana bought 2,35,461 scrips of Financial Technologies (India) Ltd, as per bulk deal data available with the stock exchanges.

The shares were purchased at an average price of Rs 347.76, valuing the transaction at Rs 8.18 crore.

However, identity of seller (s) of the shares could not be ascertained immediately.

Shares of FTIL surged by 4.99 per cent to close at Rs 352.40 apiece on the BSE, its highest trading permissible limit for the day.

FTIL and Multi Commodity Exchange of India Ltd (MCX) are under scanner of market regulator Sebi as well as other agencies for various violations.