The promoter of Universal Commodity Exchange (UCX), IT People India, involved in providing software products and solutions to capital and commodities markets today announced that it has received `in-principal` approval for UCX from the ministry of consumer affairs , for setting-up a nationwide multi commodity exchange.
IT People India had outperformed the market over the past one month till Aug. 16, 2010, rising 43.97% compared with the Sensex`s 0.53% rise.
It outperformed the market in past one quarter, gaining 120.46% as against 6.21% rise in the Sensex.
Shares of the company gained Rs 1.65, or 4.94%, to trade at Rs 35.05. The total volume of shares traded was 581,716 at the BSE (12.50 p.m., Tuesday).
Source:http://www.myiris.com/newsCentre/storyShow.php?fileR=20100817125831194&dir=2010/08/17&secID=livenews
