New Delhi, April 1 -- Thangamayil Jewellery share price gained over 2% on Tuesday after the company informed about the release of promoter stake pledge. The multibagger small-cap stock, Thangamayil Jewellery shares rose as much as 2.33% to Rs.2,054.35 apiece on the BSE.

Thangamayil Jewellery said that its promoters have released the pledge on the shares held by them and the entire promoters' shares are free from encumbrances.

"We are pleased to inform you that pledge of shares of our promoters with the Banks has been completely released and the entire promoters shares are free from any encumbrances with immediate effect," Thangamayil Jewellery said in a regulatory filing on March 28.

Thangamayil Jewellery's promoters - Balarama Govinda...