Promoter Pledged Holdings In BSE 500 Stocks Slip: Kotak Institutional Equities
Promoters of 73 companies in the BSE 500 Index have pledged part of their holdings in the March 2024 quarter.
Pledged holding by majority shareholders of S&P BSE 500 index fell marginally to 1.10% in the March 2024 quarter from 1.17% in the December 2023 quarter, according to Kotak Institutional Equities.
Promoters of 73 companies in the BSE 500 gauge have pledged part of their holdings in the March 2024 quarter. The value of these pledged promoter holdings stood at Rs 1.96 lakh crore, about 0.56% of the total BSE 500 index’s market capitalisation, a May 7 note said.
Highlights Of The Fourth Quarter Of 2024
Companies whose promoters pledged more than 75% of their holdings were none.
Companies in which pledged promoter holding increased: Max Financial Services Ltd., Eris Lifescience Ltd., Ashok Leyland Ltd., Jubilant Foodworks Ltd. and Lloyd Metals & Energy Ltd., among others.
Companies in which pledged promoter holdings declined: Kalpataru Projects International Ltd., Bharat Forge Ltd., GMR Airports Infrastructure Ltd., Lemon Tree Hotels Ltd., Tata Communications Ltd., among others.
Fresh promoter pledges: None.
Companies in which promoters released almost entire pledged holdings: Bharat Forge, Lemon Tree Hotels and Tata Communications.
Companies in the Nifty 50 with more than 5% of pledged promoter holdings: Apollo Hospitals Ltd. (16.1%), Asian Paints Ltd. (7%), IndusInd Bank Ltd. (45.5%) and JSW Steel Ltd. (15.2%)
