Promoter pledged holdings decline in March quarter: Lemon Tree Hotels, Tata Communications, among others with highest drop

Bharat Forge, , and completely released their pledged holdings from 7.1%, 3.3%, and 3.1%, respectively in the December quarter.

Kalpataru Projects reduced its pledged holdings from 42.5% to 31.5% on a quarter-on-quarter basis, while GMR Airports slashed its holdings to 58.2% from 63.4%.

Adani Green and JSW Energy also remain in the list of companies with the highest decrease in the pledged holdings with a difference of 70 bps and 210 bps.

Promoters of 73 companies in the BSE-500 Index have pledged part of their holdings in the March 2024 quarter. The value of pledged promoter holdings stood at Rs 1.96 lakh crore.

, , , and are the companies within the Nifty50 group whose pledged holdings stand at more than 5%.

Notably, there are no companies under the study that have pledged more than 75% of their promoter shareholding, while , Ashok Leyland, and Jubilant Foodworks, among others, have increased their pledged promoter holding.

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