Promoter pledging drops in Q1 even as stocks in broader market extend gains

Share pledging by promoters came down during the March 2021 quarter amid stocks in the broader market extending their gains. According to a report by Kotak Institutional Equities (KIE), the value of pledged promoter holdings as a percentage of promoter holding declined to 1.64 per cent in March 2021 quarter from 2.09 per cent in the December 2020 quarter. The value of promoter pledged holdings stood at Rs1.6 trillion, 0.81 per cent of the total market capitalisation of the BSE 500 index. About 85 companies in the BSE-500 Index had pledged part of their holdings at the end of the Ma.....

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