Shares of Multi Commodity Exchange (MCX) hit a 52-week high of ₹2,120 on BSE after the MCX announced that it will switch to new web-based software developed by Tata Consultancy Services from October 3.
The exchange has been using the platform developed by 63 Moons (formerly Financial Technologies) and recently renewed the service contract with the company until December.
The exchange will go live with the new commodity derivatives platform with effect from Tuesday and plans to conduct mock trading on October 2 in order to allow members to participate and validate setup and connection, it said.
Simultaneously, MCX Clearing Corporation will also conduct mock tests to ascertain the stability and functioning of the software, it said.
Shares of the company opened at ₹1,974 and touched a high of ₹2,120 then a low of ₹1,943 on profit-booking before closing at ₹2,100 with a gain of 9 per cent over the previous close.