MCX shares hit an all-time high after board decides to recover tech cost from MCXCCL for old platform

MCX Shares Hit an All-time High: Shares of Multi Commodity Exchange of India (MCX) hit an all-time high of Rs 3,146.95 in morning deals on BSE on Tuesday (November 28) after the company's board decided to recover the technology cost from MCXCCL for the old platform.

The shares were trading higher by 7 per cent, or Rs 205.10, at Rs 3,134.25 at 9:58 am on Tuesday. 

After the stock's sharp rise, BSE says the stock is 'only fit and proper persons are eligible to deal in these shares'.

The stock closed the market session on Friday at Rs 2,929,15 and opened the trading session on Tuesday at Rs 2,934.95 before hitting an all-time high.

Why MCX shares are rising

The company's board has decided to recover the technology cost from Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) for the old platform.

Under the old Resource Sharing Agreement, the company will charge on “pay for use basis” till October 15, 2023.

MCX will spend the remaining expenditure of Rs 35 crore from 16 October to 31 December on the old platform.

For the operational needs of MCXCCL, the company will provide unsecured loan/Inter Corporate Deposit of Rs. 25 crore as per requirement.