Geetanjali Trading pledges 12.43% stake in Asian Paints

MUMBAI: Asian Paints said one of its promoters Geetanjali Trading & Investments has reduced its pledged percentage to 12.43 per cent in the paint company.

Geetanjali Trading & Investments has revoked 7.5 lakh shares on March 6, resulting in decrease in percentage of pledged shares to 12.43 per cent, from earlier 13.37 per cent.

After the aforesaid transaction, the total number of shares pledged by the promoters' group companies has come down to 15.20 per cent from 15.42 per cent, the filing added.

Shares of Asian Paints were trading at Rs 740, up 1.91 per cent on the BSE.