BNP Paribas picks up MCX shares worth Rs 14.5 crore

MUMBAI: Financial services firm BNP Paribas Arbitrage today acquired 5.66 lakh shares of Multi Commodity Exchange ( MCX) for an estimated Rs 14.5 crore.

As per bulk deal information with the stock exchanges, BNP Paribas purchased 5,66,330 shares (amounting to 1.11 per cent stake) of MCX, through open market transactions.

Shares were picked up for Rs 255.93 apiece valuing the transaction at Rs 14.49 crore.

In a separate bulk deal, South Asia Portfolio offloaded 2.74 lakh shares of MCX for little over Rs 7 crore.

Last week, BNP Paribas Arbitrage had bought 6.4 lakh shares of MCX for more than Rs 15 crore.

Leading bourse BSE has halved the circuit limit for the shares of MCX, capping its maximum movement in a day at five per cent.

Earlier, MCX shares were allowed an upward or downward movement of 10 per cent in a day.

The exchanges generally lower the circuit filter of a stock as part of their surveillance mechanism to avoid excessive volatility in the share price.

Shares of MCX today gained 4.99 per cent to end the day at Rs 255.40 apiece, on the BSE.