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BW Businessworld

MCX Gains; Kotak Mahindra Bank Agrees To Buy Stake

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Shares in Multi Commodity Exchange of India surged on Monday (21 July). Private sector lender Kotak Mahindra Bankagreed to buy a 15 per cent stake in the company for Rs 4.59 billion ($76.1 million), the bank said in a statement late on Sunday (20 July).

Kotak will purchase the stake from bourse operator Financial Technologies (India) Ltd and the deal is subject to regulatory approvals, the statement said.



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