Shares of Multi Commodity Exchange of India (MCX) plummeted 12.5% after a delay in the delivery of trading software by Tata Consultancy Services (TCS) forced MCX to continue using its existing vendor, 63 Moons Technologies. MCX had hired TCS to replace the software provided by 63 Moons, but the transition has been postponed several times. The shift to the new platform is now expected to occur in June 2023. Despite the delay, analysts believe that once the transition is complete, MCX s operating profits will increase and result in margin expansion.
If Cyrus s protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality.
There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.