Sunil Hitech surges over 4% post pledge release

India Infoline News Service | Mumbai | September 08, 2017 15:18 IST

The stock of Sunil Hitech Engineers advanced over 4% towards closing hours on Friday, on the BSE on reports of the removal of shares pledged with lenders.

The stock of Sunil Hitech Engineers advanced over 4% towards closing hours on Friday, on the BSE on reports of the removal of shares pledged with lenders.
 
The promoter of Saurashtra Cement released pledge on 1.05 crore equity shares on September 6, 2017, said the company in a BSE filing on Friday.
 
“We hereby intimate you about releasing of 10,500,000 Equity Shares (2.78% of Paid-up Capital) out of 34,792,453 Equity Shares (9.20 % of Paid-up Capital) of Sunil Hitech Engineers Ltd. on September 6, 2017, that was earlier pledged by Sunil Ratnakar Gutte”, said the company.
 
Sunil Hitech Engineers was trading at Rs 13.78 per share, up by Rs 0.54 or 4.08% as at 1455 hours on Friday, on the BSE. The stock witnessed a spurt in volume by more than 2.49 times and hit its intraday high and low of Rs 13.74 and Rs 12.55, respectively. It attracted a traded volume of 62,60,713 shares and traded value of Rs 828.92 lakh on the NSE. The company had hit its 52-week high of Rs 23.45 on October 20, 2016, and 52-week low of Rs 8.27 on November 24, 2016, on the NSE.
 
Sunil Hitech Engineers Limited is engaged in the business of engineering, procurement, construction (EPC), fabrication, erection, overhauling, maintenance, trading and other related activities.

***Note: This is a NSE Chart

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