IT Raids on Financial Technologies subsidiary MCX

Financial Technologies India Ltd has announced that Multi Commodity Exchange of India Ltd, a Subsidiary of the Company has issued a press note towards routine investigation carried out by Income Tax Department.

The Contents of the Press Note is as under:

"The Income Tax Department on June 19, 2007 carried out routine investigation at the Multi Commodity Exchange of India at its offices in Mumbai.

The exchange officials have said that they have complied with all rules and regulations and all laws of the land."

The stock was trading at Rs.2705, up by Rs.58.95 or 2.23%. The stock hit an intraday high of Rs.2736 and low of Rs.2642.55. The total traded quantity was 38470 compared to 2 week average of 113543.

Source : Equity Bulls

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