
Steel Exchange shares jump 8% after this stock pledge update. Do you own?
Live MintSmall-cap stock below ₹10, Steel Exchange India, gained as much as 8% in intraday trade on Monday, March 3, following an update on stock pledge regarding its promoter Vizag Profiles Private Limited. In an exchange filing on March 1, the promoter informed that it released a pledge on 50,00,000 shares, representing 0.42% of the total share capital, on February 27 encumbered in favour of Capri Global Capital Limited following part payment of principal loan taken by the promoter or promoter group. Share Price Impact Steel Exchange India share price jumped 8.03% to hit the day's high of ₹8.47 apiece. Steel Exchange Q3 Results Steel Exchange India, a leading manufacturer of TMT Rebars, posted a multifold jump in Q3 profit to ₹15.86 crore from ₹21 lakh in the year-ago period.
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