Himatsingka Seide promoters' pledged shares released

The promoter's group of Himatsingka Seide Limited announced that the company has released all its pledged shares.

From the results of quarter ending of March 2019, it is observed that Himatsingka Seide Limited had pledged 11.09 per cent of promoter and promoter group's shares, but in the current quarter, the company has managed to release 100 per cent of its pledged shares.

Himatsingka Seide Limited is engeged in the manufacture of retail and distribution of home textile products. On the manufacturing front, the company produces bedding products, bath products, drapery and upholstery fabrics and fine count cotton yarn. The company operates across North America, Europe and Asia and the group's retail and wholesale distribution divisions own and license among the largest brand portfolios in the home textile space.

Reacting to this development on Monday, the stock of Himatsingka Seide Limited closed at Rs 178.75, an increase of Rs. 7.05 (4.11 per cent) over its previous closing price. The stock of Himatsingka Seide Limited touched high of Rs. 184.45 and low of Rs. 166.85 on Monday.