63 Moons Technologies Shares Surge 18% After MCX Extends Support Service Contract

Shares of 63 Moons Technologies Ltd. surged over 18%, the most in a week, after Multi Commodity Exchange Ltd. renewed the contract with the company for software support services.

MCX renewed the contract with 63 Moons for a sum of Rs 125 crore per quarter for two quarters, totalling Rs 250 crore. The new arrangement will commence from July 1, 2023, to Dec. 31, 2023, the digital market technology provider said in a statement.

Shares of 63 Moons Technologies jumped 18.01% intraday, before paring gains to trade 11.14% higher as of 10:04 a.m. This compares to a 0.6% advance in the NSE Nifty 50. It rose the most in a week, since June 23.

Total traded volume so far in the day stood at 12.7 times its 30-day average. The relative strength index was at 87, implying that the stock may be overbought.