IndusInd Bank today morning rose over 6% to Rs.1790 after which it came down and is now at Rs.1720 levels, up some 2.5%. Its 52-week high is at Rs.1818.

The stock price is up after it conveyed that it has invoked the pledge on 6 crore equity share of Jaypee Infratech. This is 4.3% stake, held by promoter company, Jaiprakash Associates.

Jaiprakash Associates had 89.5 crore shares or 64.44% stake in Jaypee Infratech as of December-end 2017, of which 92.55% were pledged.

Invoking of pledged shares means that the lender has exercised his right on security and the shares have been actually transferred from the demat a/c of borrowers to the demat account of lenders. To that extent the promoters holding has reduced and lender has the liberty to sell the shares at any time and sue the borrower for balance amount.