These 6 companies’ promoters reduce their pledged share; stocks surge up to 100% so far in FY23
There were about 22 companies on the BSE 500 list where promoters reduced their percentage of share pledging in the September quarter as compared to the June quarter.
ET Markets found 15 stocks have given positive share price return so far in FY23 and among them, six stocks have gained anywhere between 35 and 100% (Data Source: ACE Equity)
ET Markets found 15 stocks have given positive share price return so far in FY23 and among them, six stocks have gained anywhere between 35 and 100% (Data Source: ACE Equity)
Promoters pledge the share to raise funds for business expansion. Companies with high promoter pledging tend to witness high volatility in their stock prices while reducing pledged shares is likely to minimize the investors’ risk.
| share price return so far in FY23 : 100%
Pledge as a percentage of promoter shares reduce in the September quarter to 2.66% as against 3.79% in the June quarter.
CMP: Rs 4031
| share price return so far in FY23: 76%
Pledge as a percentage of promoter shares reduced in the September quarter to 25.01% as against 25.33% in the June quarter.
CMP: Rs 325
| share price return so far in FY23: 49%
Pledge as a percentage of promoter shares reduced in the September quarter to 11.88% as against 14.72% in the June quarter.
CMP: Rs 94
| share price return so far in FY23: 41%
Pledge as a percentage of promoter shares reduced in the September quarter to 4.28% as against 6.09% in the June quarter.
CMP: Rs 608
Transmission | share price return so far in FY23: 39%
Pledge as a percentage of promoter shares reduced in the September quarter to 50.39% as against 52.03% in the June quarter.
CMP: Rs 510
| share price return so far in FY23: 35%
Pledge as a percentage of promoter shares reduced in the September quarter to 11.14% as against 19.05% in the June quarter.
CMP: Rs 79
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
