Promoters of BSE-500 companies pledged 9 per cent of their holdings, for three months ended March 2017, a decline from 9.3 per cent in the preceding quarter, says a report by Kotak Institutional Equities. "Our analysis of pledged holdings of BSE-500 stocks shows that percentage of pledged promoter (majority shareholders) holdings has decreased in the March quarter in comparison to the December quarter," the report said. "The percentage of promoter pledged holding decreased to 9 per cent in March 2017 compared to 9.3 per cent in December quarter," it added. Seven companies of the 135 companies represented more than 90 per cent of the pledged promoter holdings. Meanwhile promoters of Future Consumer, Rain Industries, Reliance Power, Future Retail and Adani Power were found to have decreased their pledged holdings.

Source: dna May 15, 2017 14:48 UTC