Promoter pledging hits three-year high in August at 1.86% of market cap

Value of pledged shares soared 56% to Rs 2.77 trillion in August from Rs 1.78 trillion at the end of July

Topics
pledged shares | Indian promoters | market capitalisation

Sundar Sethuraman  |  Thiruvananthapuram 

Shares by pledged by promoters as a percentage of India’s total market capitalisation rose to 1.86 per cent—most since April 2017—at the end of last month. The value of pledged shares soared 56 per cent to Rs 2.77 trillion in August from Rs 1.78 trillion at the end of July, data provided by primeinfobase.com showed.

Pranav Haldea, Managing Director, Prime Database Group said this increase was driven by creation of pledges in Hindustan Zinc and Vedanta. About 13 companies saw their percentage of promoter holding pledged increase in August. On the other hand, ...
First Published: Mon, September 14 2020. 19:07 IST