5Paisa Capital gets nod for commodity trade, stock zooms
ETMarkets.com|
Jan 18, 2018, 01.15 PM IST
NEW DELHI: Shares of 5Paisa Capital hit the upper circuit limit of 5 per cent soon after it got approval from MCX and capital markets regulator Sebi (Securities and Exchange Board of India) to trade in commodities.
At 12:44 pm, the stock was trading at Rs 344.95 on the NSE.
In a BSE filing, the company said, "MCX has approved our application for membership of MCX as Trading-cum-Clearing Member. This will enable 5 Paisa Capital Limited to provide a platform for trading in commodities derivatives to its customer and/or itself trade in commodities through MCX."
The licence is of permanent nature and valid until revoked or surrendered.
5 Paise Capital is a digital platform for all financial products, including equities, derivatives, mutual funds, AIFs, bonds and debentures, insurance and personal loans. The company claims to have seen a 50 per cent growth in customer acquisition on a quarter-on-quarter basis for the September quarter.
It was listed on bourses in November last year after demerging from the IIFL Group in 2016.
At 12:44 pm, the stock was trading at Rs 344.95 on the NSE.
In a BSE filing, the company said, "MCX has approved our application for membership of MCX as Trading-cum-Clearing Member. This will enable 5 Paisa Capital Limited to provide a platform for trading in commodities derivatives to its customer and/or itself trade in commodities through MCX."
The licence is of permanent nature and valid until revoked or surrendered.
5 Paise Capital is a digital platform for all financial products, including equities, derivatives, mutual funds, AIFs, bonds and debentures, insurance and personal loans. The company claims to have seen a 50 per cent growth in customer acquisition on a quarter-on-quarter basis for the September quarter.
It was listed on bourses in November last year after demerging from the IIFL Group in 2016.
