Hot Pursuit     18-Nov-14
FTIL surges on signing pact to sell Mauritius-based bourse
Financial Technologies (India) jumped 4.67% to Rs 190.55 at 10:28 IST on BSE after the company signed a pact to sell its Mauritius-based exchange to Continental Africa Holdings for $40.5 million.

Meanwhile, the BSE Sensex was up 78.66 points, or 0.28%, to 28,256.54

On BSE, so far 1.78 lakh shares were traded in the counter as against an average volume of 3.41 lakh shares in the past one quarter.

The stock hit a high of Rs 194.50 and a low of Rs 186.50 so far during the day. The stock hit a 52-week high of Rs 403.60 on 10 March 2014. The stock hit a 52-week low of Rs 135.75 on 22 October 2014.

The stock had underperformed the market over the past one month till 17 November 2014, falling 13.7% compared with the Sensex's 7.93% rise. The scrip also underperformed the market in past one quarter, sliding 33.58% as against Sensex's 7.95% rise.

The small-cap company has an equity capital of Rs 9.22 crore. Face value per share is Rs 2.

Financial Technologies (India) (FTIL) after market hours on Monday, 17 November 2014, said that the board of FT Group Investments Mauritius (FTGIPL), a wholly owned subsidiary of FTIL on Monday, 17 November 2014 approved the sale of 100% of its stake in Bourse Africa, Mauritius (together with its wholly owned subsidiary Bourse Africa Clear) to Continental Africa Holdings (CAHL), Mauritius, for $40.5 million, subject to certain approvals in Mauritius and in India, as may be applicable. FTGIPL on Monday, 17 November 2014 signed a definitive agreement with CAHL, subject to certain customary closing conditions. The entire transaction is expected to be completed within the next 210 days, FTIL said.

FTIL's net profit surged 1111.8% to Rs 327.42 crore on 505.1% increase in total income to Rs 1052.44 crore in Q2 September 2014 over Q2 September 2013.

FTIL is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets. It is a global leader in creating and operating next-generation tech centric financial exchanges.

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