MCX board meets for preferential issue

Shares of MCX will remain in focus as its board will meet on Thursday to consider the preferential allotment. The board will also decide on changes in the main object clause. MCX is part of Jignesh Shah-led Financial Technologies India (FTIL), which was declared not ‘fit and proper’ to run any exchange by regulator FMC in December. The regulator had asked FTIL to bring down its stake in MCX to 2 per cent, from 26 per cent. FTIL had said it would take legal recourse against the preferential allotment.