Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By capitalheight
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Mcx Gets 2 % stake by NSE News By Money CapitalHeight

% of readers think this story is Fact. Add your two cents.


NSE has sold over 2 per cent stake in the MCX in small tranches over past few weeks, even as speculations are rife about a potential buyout of the country’s largest commodity bourse by some rival entity or private investors.

According to MCX’s latest shareholding disclosure, NSE held 12.5 lakh shares, or 2.45 per cent stake, in the commodity exchange as on June 30, 2012. Of this, NSE is believed to have sold more than 12 lakh shares and is left with only a few thousand shares, as it did not see any further value proposition in this long-held investment, sources said.

While the details of the sale, which was carried out in small tranches through open market, could not be ascertained, these shares would be worth over Rs 30 crore at current price.

The buyers’ identity also could not be ascertained.

For quite some time, NSE has been looking to sell the MCX shares held by it for many years.

NSE was allotted 10 lakh MCX shares in May 2005, but the quantum of this holding has since changed many times due to change in MCX’s share capital.

Way back in 2009, NSE had written to MCX about its intention to sell its 1 per cent stake in MCX, as it did not see any strategic value in this investment. MCX and its promoter Financial Technologies (FTIL) had replied to NSE at the time that they would facilitate the stake sale at “a right opportune time”.

MCX was not a listed company at that time.

FTIL had said it also held a 1 per cent stake in NSE at the time and it would continue to hold that. NSE and MCX group had got those shares at ‘token stakes’ in each other.

Initially, NSE and MCX did not compete directly with each other, as they were in different segments of stocks and commodities trading, respectively. However, they now compete with each other in various segments, including in equities and currency derivatives segments, while NSE-promoted NCDEX competes with MCX in commodity futures trading.

Jignesh Shah-led FTIL holds 26 per cent stake in MCX, while other major investors include Fidelity Funds (5 per cent), Passport Capital (4.9 per cent), Aginyx Enterprises (4.79 per cent), NYSE Euronext (4.73 per cent), IFCI (4.79 per cent) and Nabard (3.06 per cent).

MCX shares have seen strong market interest in the recent days, especially since a major payment crisis involving about Rs 5,500 crore broke out at a group entity, National Spot Exchange Ltd (NSEL), late last month.

While there are no official words, the market is rife with speculations that MCX might eventually see a new investor acquiring majority control and the names doing the round include those of at least rival commodity exchanges and some private equity players, among others.

This has helped MCX shares soar sharply from a 52-week low of Rs 238.30 on August 19 to Rs 306.90 currently. The shares rose by 5 per cent on Monday at the Bombay Stock Exchange.

Money CapitalHeight Research Pvt Ltd  is an ISO 9001-2011 Registered  Stock Research Company having a strong hold in providing most authentic and accurate Stock Tips as well as  Stock Future Tips.



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Humic & Fulvic Liquid Trace Mineral Complex

HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.



Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...


It’s OXYGENATED

It Always Tests at 9.5+ pH

Preservative and Chemical Free

Allergen Free

Comes From a Pure, Unpolluted, Organic Source

Is an Excellent Source for Trace Minerals

Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents

Highly Conductive/Full of Extra Electrons

Is a Full Spectrum Complex


Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.


Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.