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22Nd Aug 2016
 |
| NSE (The Total Investment & Insurance Solutions) |
Not considered a good sign by investors, the
pledging of shares by promoters of the 1,517 NSE-listed companies has risen to
a seven-year high at Rs2.08 lakh crore with companies like TCS and Cairn India
leading the way, says a report by PRIME Database. The Total Investment & Insurance Solutions
"Across all NSE listed companies
(including companies with no pledging), the percentage of promoter holding
pledged went up from 15.57% a year back to 16% on June 30, 2016 (further
increased to 16.21% as on August 11, 2016)," Pranav Haldea, Managing
Director of PRIME Database, said.
In value terms, promoters' share pledging
went up to Rs 1.98 lakh crore as on June 30, 2016 compared to Rs 1.77 lakh
crore as on June 30, 2015 (further increased to Rs 2.08 lakh crore as on August
11, 2016), the report said. The Total
Investment & Insurance Solutions
According to Haldea, this can be attributed
mainly to the rise in share prices.
The high pledge levels, however, 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, he said.
Shares were pledged in as many as 522
companies of the 1,517 NSE-listed companies as on August 11, 2016, with Tata
Consultancy Services (TCS), Adani Ports, Cairn India, JSW Steel among the top
companies by value of pledged shares. The
Total Investment & Insurance Solutions
Surprisingly, there were as many as 31
companies in which the complete holding (100 per cent) of the promoters was
under pledge as on June 30, 2016, including Bajaj Hindusthan Sugar, Bharati
Defence and Infrastructure, IL and FS Investment Managers, Ind-Swift
Laboratories, IVRCL, JMT Auto, MSP Steel and Power, Reliance Defence and
Engineering and Visa Steel.
Overall, there were 204 companies in which
the percentage of promoter holding pledged increased in this period.The Total Investment & Insurance
Solutions
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