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MUMBAI: Multi Commodity Exchange (MCX) stock gyrated in the last two trading sessions as the bourse’s shift to a new software provider faced another delay.
On Thursday, MCX told the bourses that it will go live with a new software provider on October 1 after going back and forth for about two years. In an extremely weak market, the stock rallied 5%. However, the very next day it announced that markets regulator Sebi had asked it to delay the shift to a new platform. As a result, the stock slid over 2%.
The shift was put in abeyance after Chennai Financial Markets and Accountability (CFMA), an organisation working for investors, filed a suit in Madras high court.
On Thursday, MCX told the bourses that it will go live with a new software provider on October 1 after going back and forth for about two years. In an extremely weak market, the stock rallied 5%. However, the very next day it announced that markets regulator Sebi had asked it to delay the shift to a new platform. As a result, the stock slid over 2%.
The shift was put in abeyance after Chennai Financial Markets and Accountability (CFMA), an organisation working for investors, filed a suit in Madras high court.
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