Kotak-MCX-FTIL deal win-win; pricing apt: ICAN Advisors

The deal values MCX at Rs 3060 crore (Rs 601/sh) whereas the stock closed at Rs 786.25 on Friday.

Anil Singhvi, managing director, ICAN Advisors says the Kotak Mahindra Bank - MCX -  Financial Technologies deal is a win win situation for all the companies involved.

Speaking to CNBC-TV18, Singhvi says Kotak Mahindra Bank has been wanting to enter the exchange platform and this deal facilitates that.

The deal values MCX at Rs 3060 crore (Rs 601/sh) whereas the stock closed at Rs 786.25 on Friday.

However, Singhvi is quick to add that the deal was done in a fair and transparent manner.

"The stock's 90-day average price was Rs 600 per share. It was only after the speculation of this deal that the stock started to rally," he adds.

Transcript to follow soon.

Kotak Mahindra stock price

On July 21, 2014, at 09:23 hrs Kotak Mahindra Bank was quoting at Rs 954.85, up Rs 19.75, or 2.11 percent. The 52-week high of the share was Rs 971.80 and the 52-week low was Rs 588.00.

The company's trailing 12-month (TTM) EPS was at Rs 19.85 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 48.1. The latest book value of the company is Rs 159.29 per share. At current value, the price-to-book value of the company is 5.99.

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