The stock pared its gains and finally ended at Rs 578, up 1% from its previous close. The counter witnessed trades of 7.81 lakh shares on the BSE.
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(Updated at 1409hrs)
Bombay Dyeing has gained in late noon trades on partial release of pledged shares.
The stock opened at Rs 572 and surged 6.3% to a high of Rs 607. The stock is now trading with a gain of 2.8% at Rs 587. Over 6.75 lakh shares have been traded on the counter so far.
The company has informed the BSE through a press release that JM Financials have released 8,29,000 shares of Bombay Dyeing pledged with them. The company had pledged 23,97,000 shares (6.2%) with the financial company. Now the balance of 15,68,000 shares (which is 4.06% of the paid-up share capital of Bombay Dyeing) remains pledged with JM Financial.