The stock of MCX rose 5.2% to hit a new 52-week high of Rs 4,433.10 from its previous close of Rs 4,213.
Sebi has approved Praveena Rai for the post of Managing Director and Chief Executive Officer of Multi Commodity Exchange of India (MCX).
“Her appointment is subject to the acceptance of the offer made to her and the approval of the shareholders of MCX,” the exchange filing said.
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After completing her MBA in Business from the Indian Institute of Management, Ahmedabad (IIM-A) in 1995, she joined Procter & Gamble as Assistant Brand Manager. There she worked for two years. She spent seven years of her life in two different companies. In 2004, she joined the Citibank Group as Vice President of Customer Care, from where she was promoted as the Head of Citibank Trade Services. After spending a total of four and a half years, Rai joined HSBC for a new stint as South Asia Head Product Management, where she looked after commercial banking sales, payments and cash management. At HSBC, she held various roles internally for nine and a half months.
From there she moved to Kotak Mahindra Bank to head cash management and transaction banking. Finally, she moved to the National Payments Corporation of India (NPCI) as the Chief Operating Officer, where she worked for a little over five and a half years of her professional life. MCX shares rose 5.2% to a new 52-week high of Rs 4,433.10 from its previous close of Rs 4,213. MCX shares have gained over 5% in the last five days. The stock has given a return of 15% in the last six months. The company’s shares have increased investors’ value by 420% in the last five years. In comparison, NIFTY 50 has gained 0.6% in the last five days.
