Granules India promoter's pledged shares reduce

The promoter of Granules India Limited (GIL) have reduced 12.95% of the total equity share pledge on GIL. Post this event, 3.64% of the total shareholder's equity is still currently pledged.

In this regard, Mr Krishna Prasad Chigurupati Chairman and Managing Director said "As communicated earlier, I am in line with the timelines committed to reduce my pledge of shares. The pledge was made earlier to fund the share warrants that were taken to fund the Capex of the company. I will be clearing the rest shortly and will remain committed to future growth and development of Granules and remain bullish about our business ability to create long-term shareholders value".

Shares of GRANULES INDIA LTD. was last trading in BSE at Rs.207.45 as compared to the previous close of Rs. 212.05. The total number of shares traded during the day was 144346 in over 4510 trades.

The stock hit an intraday high of Rs. 216.5 and intraday low of 207. The net turnover during the day was Rs. 30520849.

Source : Equity Bulls

Keywords