MCX stock up 9% as RBI lifts curbs on foreign investors
The restrictions placed on the purchase of shares were withdrawn with immediate effect.
Stock price of commodity bourse MCX surged nearly 9% after the Reserve Bank of India removed restriction imposed on overseas investors on buying equity shares in the Multi Commodity Exchange (MCX).
In early trade, MCX stock climbed 8.88% to Rs 934 on BSE. On NSE, it jumped 8.97% 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Hence, the restrictions placed on the purchase of shares of the company are withdrawn with immediate effect, it had said.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% as of March 2016, while the rest 0.36% was held by others.