Merill Lynch acquires 2.64 lakh FTIL shareshttps://indianexpress.com/article/business/market/merill-lynch-acquires-2-64-lakh-ftil-shares/

Merill Lynch acquires 2.64 lakh FTIL shares

FTIL’s stock surged 4.99 per cent to close the day at Rs 370 — its upper circuit limit on the BSE.

Foreign fund house Merrill Lynch Capital Markets Espana today acquired 2.64 lakh shares in Jignesh Shah-led Financial Technologies (FTIL) for an estimated Rs 9.77 crore in an open market transaction.

This was in addition to 2.35 lakh shares purchased by the entity yesterday in the open market.

According to the bulk deal information with the stock exchanges today, Merrill Lynch bought a total of 2,64,159 scrips of Financial Technologies (India) Ltd.

FTIL shares were bought at an average price of Rs 370.07 apiece, amounting the transaction to Rs 9.77 crore.

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On Wednesday, Merrill Lynch had picked up 2.35 lakh shares for over Rs 8 crore. FTIL and MCX are under scanner of Sebi as well as other agencies for various violations.

Stocks jump 5%

Mumbai: Shares of Financial Technologies Thursday rose by 5 per cent after global financial services firm Merrill Lynch picked up 2.35 lakh shares in the company.

FTIL’s stock surged 4.99 per cent to close the day at Rs 370 — its upper circuit limit on the BSE.

Sixth arrest in NSEL case

Mumbai: The Managing Director of a top defaulting company linked to the Rs 5,600-crore payment crisis at NSEL has been arrested, taking the number of those held in the scam to six. Surender Gupta, MD of PD Agroprocessors was arrested yesterday, an official of Mumbai Police’s Economic Offences Wing said Thursday.