Mumbai, Jan. 3: Crisil Ltd is picking up a 12 per cent stake in the National Commodities Exchange (NCDEX) for over Rs 2.66 crore.

The leading rating agency today said this equity investment is synergistic in that it could now provide specialised services for various players in the commodity market.

According to Crisil managing director and chief executive officer R. Ravimohan, the commodities market worldwide is much bigger than the equity markets and India should witness a similar trend.

Crisil added that the equity investment would also throw open a number of new opportunities such as introducing member ratings and warehouse ratings, extending Crisil Market Wire, the real-time news services for the commodities market, and providing risk management services for players in the commodity market.

NCDEX, which has commenced trading in commodities like gold, silver and soyabean oil since December last, is now planning to add tea, coffee, jute and sugar in the next three months.

The exchange has been promoted by the National Stock Exchange, ICICI Bank and Life Insurance Corporation of India (LIC).