 "HDIL up 4% after promoters revoke all pledged equity shares")
Shares of Housing Development and Infrastructure Limited (HDIL) is trading higher by nearly 4% at Rs 85 on National Stock Exchange (NSE) after the real estate developer said its promoters have revoked all shares earlier pledged with IL&FS Trust Company.
IL&FS Trust Company has released 75.49 million equity shares of promoters, including Mr Rakesh Kumar Wadhawan, on September 29. The released shares in the latest tranche comprise 51.89% of the total shares pledged by promoter group, HDIL said in a press release.
Earlier on July 4, 2014, IL&FS Trust Company had released 70 million equity shares, comprising of 48.11% of the total pledged shares of promoter group.
The company said, with the latest release of pledged shares by IL&FS Trust Company, the total number of pledged shares by HDIL promoters now stands nil.
The stock opened at Rs 83.75 and hit a high of Rs 85.80 on NSE. A combined 3.9 million shares changed hands on the counter in first half-an-hour of trading on NSE and BSE.
IL&FS Trust Company has released 75.49 million equity shares of promoters, including Mr Rakesh Kumar Wadhawan, on September 29. The released shares in the latest tranche comprise 51.89% of the total shares pledged by promoter group, HDIL said in a press release.
Earlier on July 4, 2014, IL&FS Trust Company had released 70 million equity shares, comprising of 48.11% of the total pledged shares of promoter group.
The company said, with the latest release of pledged shares by IL&FS Trust Company, the total number of pledged shares by HDIL promoters now stands nil.
The stock opened at Rs 83.75 and hit a high of Rs 85.80 on NSE. A combined 3.9 million shares changed hands on the counter in first half-an-hour of trading on NSE and BSE.