Reliance MF buys 5.23% stake in FT from Fidelity

Reliance Mutual Fund the Reliance-Anil Dhirubhai Ambani Group (ADAG) company bought 5.23 per cent stake in Financial Technologies, the promoter of India’s largest commodity exchange, Multi-Commodity Exchange of India (MCX) on Saturday, according to media reports.

Reliance Mutual Fund bought shares from the Fidelity group at Rs 502.50 per share. And the deal values Financial Technologies (FT) at Rs 2,304 crore. There is rise in the price of shares of FT. On Saturday the share went up by 8.69 per cent to Rs 567 on Bombay Stock Exchange. The company has seen market capitalisation of Rs 2,602 crore, the BS reports.