Was GOI responsible for crash in FT stock ?

15 years ago as middle aged traders on Dalal Street, we saw the emergence of stalwarts like Dr RH Patil and some techies like Jignesh Shah of Financial Technologies. People used to talk in whispers how the Rs 40 stock of FT would make billionaires many times over for Indian investors. The reason was simple, just like Microsoft, FT’s NISE was the only licensed stock trading platform permitted for use on the NSE terminals. The meteoric rise of the NSE and consequently NISE made Jignesh Shah one of the youngest billionaires in the country,

Good things do not last for too long in a country run by crooks. In some ways FT’s undoing was to promote a parallel commodities and equities exchange under the acronym MCX-jointly promoted by NABARD and a host of other GOI bodies.


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