Jindal Stainless Ltd updates on pledging of promoters' shares

Jindal Stainless Ltd has announced that there is no loan raised against the promoters' shares (LAS), and therefore there is no linkage between the pledged shares and their market value.

Accordingly, there is no requirement of maintaining any margins, since the aforesaid shares are offered only as an additional collateral / secondary security and the operating companies assets remain as the primary security.

Therefore, any change in the share price does not trigger any margin requirements / calls by lenders.

Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.37.4 as compared to the previous close of Rs. 32.95. The total number of shares traded during the day was 186948 in over 850 trades.

The stock hit an intraday high of Rs. 38.45 and intraday low of 33.55. The net turnover during the day was Rs. 6826688.

Source : Equity Bulls

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