Promoter pledged holdings decline in March quarter: Lemon Tree Hotels, Tata Communications, among others with highest drop
Bharat Forge, Lemon Tree Hotels, and Tata Communications completely released their pledged holdings from 7.1%, 3.3%, and 3.1%, respectively in the December quarter.
Amid D-Street's bull run, the value of the promoter pledged holding came down marginally to 1.10% in the , a of 70 bps from the preceding quarter, according to a analysis. , , and , among others, saw the biggest decline in pledged holdings.A study of the pledged holdings of shows that the value of the majority shareholders (promoters) pledged holdings as a percentage of the dropped from 1.17% in December 2023.
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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Source: Stocks-Markets-Economic Times
