Nath Bio Genes had announced this news yesterday but yet the stock price continues to show traction even today. The stock rose in the opening bell session to around 4.5% to Rs.488.55 but from that level, profit booking has come in now.
The company announced that the promoters' pledged shares have been released by ARCIL. These shares were pledged as a security for loans.
Thus with these pledged shares getting revoked, the total loans outstanding have now been paid by promoters and the entire pledge has been released by ARCIL back to the promoters.
As at 31st March 2018, of the 77.32 lakh shares, promoters had pledged 45.31 lakh shares. Currently, no shares of the promoters are now pledged with ARCIL.