while i can't comment if the stock will be able to recover, i personally feel that the stock has been battered more than needed. the company isn't in that big trouble to tank the stock price 60-70% in a single trading session.
i haven't tracked this company in the past, so i wouldn't buy at current levels, considering the fact that i am not completely aware of how things are at the ground level for the company.
the company has performed really well in the past and Financial Tech was considered one of the good stocks. I do not think that the stock will go below Rs 150-130 level. It shouldn't go that low. However, a low closing towards the end of the session could mean that bigger investors may have offloaded their stake. there are many good funds and FIIs owning this stock. I didn't see anyone of those coming out in public and giving their stand about the current meltdown.
Small investors should have patience. There is no need to panic. I have seen the case of Satyam Computers very closely. Small investors were forced to hold it for a long time (4 years) but at current price, many of them would have recovered their loss. And if someone had added at lower level, would have even made good money in the stock.
Coming back to Financial Tech. I think investors who have been trapped at higher level, should add more to average at current and lower levels. It is the same stock, which was available at Rs 540 - 800 in July and many people bought it with confidence. The company hasn't gone bust. They will still make money. The profits will be there. If the spot trading starts back, the company can rebound very quickly in stock markets. Patience is the key at the moment. Anyway, there isn't any other option. Exit at current levels and booking loss, doesn't make much sense. This is my personal opinion and i am thinking from the point of view of small investor.
And, MCX should not have been punished today. That is a separate company. I would buy that stock at lower level tomorrow. That company has strong fundamentals and there is good commodity business and trade going on in India.