Housing Development and Infrastructure (HDIL), the real estate development company in India, witnessed a sharp rise in share prices on Tuesday. The promoters of the company have revoked all shares earlier pledged with IL&FS Trust Company and now the entire 100% shares in the promoters category is non-pledged.

IL&FS Trust Company has released 7,54,91,660 shares of promoters, including Rakesh Kumar Wadhawan.

Shares of the company are trading at Rs 85.75, up Rs 3.65, or 4.45% at the Bombay Stock Exchange (BSE) on Tuesday at 12:38 p.m. The scrip has touched an intra-day high of Rs 86.45 and low of Rs 83.90. The total volume of shares traded at the BSE is 1,505,819.