MCX stock surges 9% as RBI lifts curbs on foreign investors
Stock price of commodity bourse MCX surged nearly 9 per cent today after the Reserve Bank removed restriction imposed on overseas investors on buying equity shares in the Multi Commodity Exchange (MCX).
In early trade, MCX stock climbed 8.88 per cent to Rs 934 on BSE.
On NSE, it jumped 8.97 per cent to Rs 934.
The aggregate share holdings in MCX by Foreign Institutional Investors/Registered Foreign Portfolios Investors have gone below the prescribed threshold caution limit stipulated under the extant FDI policy, RBI said in a notification on May 20.
Hence, the restrictions placed on the purchase of shares of the company are withdrawn with immediate effect, it had said.
As per data available on BSE, public holding in the company was 99.64 per cent as of March 2016, while the rest 0.36 per cent was held by others.