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Promoters’ pledged shareholding will increase to 2.09% in Q3; pledged worth reaches Rs 1.8 lakh crore

Pledged shares as a share of whole holding additionally elevated throughout the earlier quarter to 1.04%, up from 1.02%.
(Picture: REUTERS)

Promoters’ pledged shareholding in BSE 500 firms elevated to 2.09% on the finish of fiscal third quarter, from 2.03% within the earlier quarter. “Promoters of 84 firms within the BSE-500 Index had pledged all or a part of their holdings within the December 2020 quarter,” a report by home analysis and brokerage agency Kotak Securities stated. With the rise, the full worth of promoter pledged holdings was recorded at Rs 1.8 lakh crore. Nonetheless, you will need to notice that larger promoter pledges don’t essentially point out that promoters are underneath monetary stress.

Pledged shares as a share of whole holding additionally elevated throughout the earlier quarter to 1.04%, up from 1.02%. The report highlighted that solely one of many 500 companies reviewed had greater than 90% of its promoter holdings pledged. There have been two such firms within the earlier quarter, and 4 in the identical interval a 12 months in the past.

Just one agency with over 90% promoter holding pledged

Future Shopper was the corporate with the very best promoter pledging at 95.5% on the finish of December 2020, up from 91.2% within the July-September quarter. The worth of pledged holding is estimated to be Rs 580 crore. Knowledge confirmed that Suzlon Vitality’s promoters have pledged 88.5% of their holdings, valued at Rs 820 crore on the finish of the earlier quarter. Max Monetary Providers had the third-highest promoter pledging at 87%, valued at Rs 3,510 crore. Max Monetary Providers promoters had 90% of their holdings pledged within the fiscal second quarter. By way of worth, Adani Ports & SEZ’s pledged shares are estimated to be value Rs 23,900 crore.

Who elevated, decreased pledges

Pledged holding as a share of whole shareholding was the very best at Omaxe at 49.3%, in line with Kotak Securities. This was adopted by GMR Infrastructure, Sterling & Wilson, and Future Shopper. The least pledged holding of the full shareholding was recorded at JSW Metal at simply 9.7%, adopted by Swan Vitality, United Breweries, and Sobha — all at 10%.

Corporations, the place promoters elevated their pledged holdings, embrace Adani Ports & SEZ, up 7.3%, adopted by Future Shopper with a rise of 4.3% and Strides Pharma Science up 3.3%. The biggest lower in promoter holding got here at Dish TV, a discount of 14.1%, adopted by Lemon Tree resort, Wockhardt, Time Technoplast, and India Cements, all lowering pledges in double digits.

Amongst companies that had negligible promoter pledged holdings included Cholamandalam Monetary, Coromandel Worldwide, EID Parry, Finolex Industries, MRF, S H Kelkar and Firm, and Star Cement.

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