Complex Made Simple

Oman in talks to acquire stake in India’s NCDEX

Oman Investment Fund (OIF) is in advanced talks with Jaypee Capital Services to acquire a 9.7% stake in India's agricultural futures exchange, National Commodity and Derivative Exchange Limited (NCDEX), Economic Times has reported. The average daily turnover of NCDEX is Rs34bn, compared with Rs300bn of metals and energy bourse MCX, whose turnover has halved because of the commodity transaction tax introduced in July and the problems with NSEL, whose promoter Financial Technologies, holds 26% in MCX.