The level of promoter pledged shares among BSE 500 companies dropped to 1.22% in the September 2023 quarter from 1.36% in the June 2023 quarter, according to an analysis by Kotak Securities. The decline is seen as a positive sign, indicating some alleviation of stress among company promoters. Promoters of 82 companies in the BSE-500 Index pledged part of their holdings in the September quarter, with the value of pledged promoter holdings standing at Rs 1.8 trillion, equivalent to around 0.61% of the total BSE-500 Index’s market capitalization.
Promoter Pledged Shares in BSE 500 Companies Decline to 1.22% in Q3 2023: Kotak Securities
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