 "Shree Renuka Sugars gains in a weak market")
Shares of Shree Renuka Sugars have rallied 1.2% to Rs 7.55 on the Bombay Stock Exchange (BSE) in an otherwise weak market on the news that three of its promoters have pledged their shares as a security for loan that the subsidiary firm has taken.
Three promoters- Murkumbi Investments, Khandepar Investments and Agri VentureTrading and Investment- have together pledged 14.45% of their shares, amounting to Rs 13.3 crores.
In a filing to BSE, the company said that the shares were pledged as a result of a security loan taken by Renuka Energy Resource Holdings, a subsidary of Shree Renuka Sugars.
The stock opened at Rs 7.49 and touched an intra-day high of Rs 7.60. At 10:30 AM, a combined total of 744,644 shares changed hands on the counter of NSE and BSE.
