IndusInd Bank acquires 50 lakh shares of Mcleod Russel India Ltd by invocation of pledged shares

IndusInd Bank had today, i.e., September 23, 2021, pursuant to Invocation of Pledge of Shares, acquired 50,00,000 Equity Shares of MCLEOD RUSSEL INDIA LIMITED.

The Equity Shares of McLeod Russel India Ltd. held by Ichamati Investments Limited were pledged with the Bank for securing the outstanding dues of Mcleod Russel India Limited (MRIL), the Borrower Company. The Bank has invoked the pledge held on the aforesaid shares for recovery of its dues from MRIL.

McLeod Russel India Limited ("the Company") is a public company limited by shares, incorporated in the year 1998 and domiciled in India with its Registered Office in Four Mangoe Lane, Surendra Mohan Ghosh Sarani, Kolkata, West Bengal, 700001. The shares of the company are listed in National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange (BSE).

The Company is engaged in cultivation & manufacturing of tea and has thirty-one tea estates in the Assam Valley and two in the Dooars region of West Bengal, three factories in Vietnam and six estates in Uganda.

Shares of IndusInd Bank Ltd. was last trading in BSE at Rs. 1169.25 as compared to the previous close of Rs. 1142.05. The total number of shares traded during the day was 264305 in over 8684 trades.

The stock hit an intraday high of Rs. 1175 and intraday low of 1147. The net turnover during the day was Rs. 307506308.

Shares of McLeod Russel India Limited was last trading in BSE at Rs. 29.2 as compared to the previous close of Rs. 27.85. The total number of shares traded during the day was 67268 in over 138 trades.

The stock hit an intraday high of Rs. 29.2 and intraday low of 28.6. The net turnover during the day was Rs. 1961339.

Source : Equity Bulls

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