High pledging levels are typically not considered a good sign by the investors as a downturn in the market price can lead to invocation and change in management.
Till March this year, pledging of shares was seen in as many as 3,074 of the 5,035 BSE-listed companies. The value of these shares pledged was Rs 2.39 trillion, the data noted.
At the end of last month, value of shares pledged with non-banking finance companies (NBFCs) was Rs 1.43 trillion.
Besides, there were 461 firms in which 5-30 per cent stake of the promoters was pledged, while in case of 140 companies, 30-50 per cent holding of the promoters was under pledge. As many as 81 companies had 50-75 per cent of promoters' holding under pledge.
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