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MCX Shareholders Give Nod for Changing Name of the Bourse

Friday, September 28, 2012
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Bangalore: Leading commodity bourse Multi Commodity Exchange said its shareholders have agreed to change the name of the company from 'Multi Commodity Exchange of India Ltd' to 'MCX Ltd'.

At the Annual General Meeting (AGM) held, the shareholders of the company have "passed unanimously" the resolution "approving the change of the company from 'Multi Commodity Exchange of India Ltd' to 'MCX Ltd' subject to statutory approvals, the commodity bourse said in a BSE filing.

Shareholders also approved appointment of Shreekant Javelkar as the Managing Director and Chief Executive officer of the company for a period of three years, it said.

The exchange posted four per cent growth in net profit at Rs.64.74 crore for the first quarter ended June 30, against Rs.62.03 crore for the April-June quarter of 2011-12 fiscal.

The average daily turnover on the exchange has risen by eight per cent to Rs.47,888 crore in first quarter of the 2012-13 fiscal from Rs.44,188 crore in the year-ago period.

Shares of the company settled lower at Rs.1,258.35 on the BSE.


Source: PTI
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