Jindal Drilling up 2.1% despite disclosure on pledged shares

MUMBAI: Shares of Jindal Drilling gained 2.1% in intraday on Thursday, despite announcement of shares pledged by the company.

At 2:31 pm, the stock was trading at Rs 252, up 2.21%. The stock touched a high of Rs 260 and low of Rs 240. Volume traded on BSE also spurted at 10,000 shares traded against its two week average of 1,350 shares.

Jindal Drilling is part of Rs 3,000-crore Jindal group engaged in oil drilling services.

In a release to the BSE, the company said the promoters pledged 26.86% or 61,59,400 shares of the total outstanding equity as collateral to the lenders for rig financing.