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Nifty holds 7900 amid consolidation; Fin Tech tanks 20%

Oct 21, 2014, 02.19 PM IST | Source: Moneycontrol.com

Financial Technologies tanked 20 percent after the government issued draft order for merger of NSEL with company, saying the entire business of NSEL will be transferred to Financial Technologies.

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Nifty holds 7900 amid consolidation; Fin Tech tanks 20%

Financial Technologies tanked 20 percent after the government issued draft order for merger of NSEL with company, saying the entire business of NSEL will be transferred to Financial Technologies.

14:19

The News International Team

Nifty holds 7900 amid consolidation; Fin Tech tanks 20%

Equity benchmarks maintained positive momentum amid consolidation with the Sensex rising 115.01 points to 26544.86 and the Nifty gaining 38.10 points at 7917.50.

About 1466 shares have advanced, 1186 shares declined, and 103 shares are unchanged on the Bombay Stock Exchange.

Financial Technologies tanked 20 percent after the government issued draft order for merger of NSEL with company, saying the entire business of NSEL will be transferred to Financial Technologies.

Merger will be effective with reference to FY14 balance sheet. “Members of 2 companies and creditors will provide suggestions in 60 days,” it added.

Finance Technologies is not in favour of NSEL’s merger with company.

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