HDIL shares jump as promoters revoke pledged shares

Shares of Housing Development and Infrastructure (HDIL) rose by over 5 per cent before closing nearly 2 per cent higher as company promoters revoked all shares pledged with IL&FS Trust Company.
At the NSE, shares closed up by 1.89 per cent at Rs 83.65.
The stock ended 1.64 per cent higher at Rs 83.45 on the BSE. During the day, it jumped 5.29 per cent to Rs 86.45.
Realty player HDIL had yesterday said its promoters have revoked all shares pledged with IL&FS Trust Company.
"Promoters of HDIL have revoked all shares earlier pledged with IL&FS Trust Company and now the entire 100 per cent shares in the promoters category is non-pledged," a company release had said.

IL&FS Trust has released over 7.54 crore equity shares of promoters, including those of Rakesh Kumar Wadhawan.

The released shares in the latest tranche comprise 51.89 per cent of the total shares pledged by promoter group.
On July 4, IL&FS Trust had released 7 crore equity shares, comprising 48.11 per cent of the total pledged shares of promoter group.
With the latest release of pledged shares by IL&FS Trust, the total number of pledged shares by HDIL promoters now stands nil, the release had said.