Setco Automotive's promoter group, Harish Kiritbhai Sheth HUF, has released 61,080 equity shares of the company on July 3rd.

These shares, representing 0.05% of the total share capital, were previously pledged as collateral for Non-Convertible Debentures of a group company, Setco Auto Systems Pvt. Ltd. This move reduces the encumbrance on promoter holdings, which is typically seen as a positive sign for investors.