Stock list: Pledged promoter holding in these 7 stocks stood at over 50% in Q3

Pranati Deva
Updated: 21 Feb 2023, 04:00 PM IST
TL;DR.

Analysis of the pledged holdings of BSE-500 stocks shows that the value of the promoter (majority shareholder) pledged holdings as a percentage of the promoter holding increased in the December quarter, noted a recent report by domestic brokerage house Kotak Institutional Equities. Promoters of 87 companies in the BSE-500 Index have pledged part of their holdings in the December 2022 quarter, it added. It also informed that The total value of pledged promoter holdings stood at ₹2.2 lakh (which is about 0.83 percent of the total BSE-500 Index’s market cap). However, Kotak clarified that pledging of shares does not necessarily imply that a company or a promoter is under financial stress; banks (lenders) could have sought additional security in the form of promoter shares. Let's take a look at the firms with over 50 percent promoter pledged holdings in the December quarter:

Max Financial Services: According to the brokerage, the company's pledged promoter holdings stand at 93% in the December quarter. It has the highest percentage of pledged promoter holding in the quarter under review even though the total pledged promoter holding decreased from 94%. The total value of the pledged promoter holding for the firm stands at ₹2,490 crore. Max Financial Services is a holding company for Max life insurance company and is engaged in the business of Investments and providing management advisory services. It has fallen 16 percent in the last 1 year.

Thyrocare Tech: The company's promoters have pledged 92.9 percent of their holding as per the December quarter data, the brokerage said. It has the second-highest percentage of pledged promoter holding in the quarter under review, as per the brokerage. However, it added that the firm's pledged promotor holding has remained the same since the September 2021 quarter. The total value of the pledged promoter holding for the firm stands at ₹2,160 crore. Thyrocare Technologies Limited provides diagnostic testing services to patients, laboratories, and hospitals in India. The stock nearly lost half of its investor wealth in the last 1 year.

Suzlon Energy: As per Kotak, the company's promoter pledged holdings stood at 80.8 percent as per the December quarter data. The pledged promotor holding for the firm decreased from 100 percent in the September quarter. The total value of the pledged promoter holding for the firm stands at ₹1,470 crore. Suzlon Energy is a provider of renewable energy solutions. The Company is a producer of wind turbines and offers a range of solar energy solutions. It has lost 8 percent in the last 1 year.

GMR Airports: The firm's pledged promoter holding came in at 67.2 percent in the December quarter as against 74.9 percent in the September quarter, noted Kotak. Even though the pledged promoter holding decreased for the firm, it still was one of the top 5 companies with the highest pledged holdings by promoters. The total value of the pledged promoter holding for the firm stands at ₹9,490 crore. GMR Airports Limited is a leading global airport developer possessing a marquee airport asset portfolio. It fell just 1 percent in the last 1 year.  

Sundaram Clayton: The brokerage noted that the percentage of pledged promoter holdings for the firm, as per the December quarter, is 63.5 percent. It has been the same since the March 2022 quarter. The total value of the pledged promoter holding for the firm stands at ₹4,790 crore. Sundaram Clayton is an auto components manufacturing and distribution company. The Company's segments include Automotive components, Automotive Vehicles & Parts, Financial Services and Others. It rose 17 percent in the last 1 year.

Wockhardt: The company's total pledged holdings as a percentage of promoter holdings in the December quarter stands at 56.1 percent, Kotak said. This figure was 52.8 percent in the September quarter, but it was at 47.8 percent in the June 2021 quarter. The total value of the pledged promoter holding for the firm stands at ₹1,090 crore. Wockhardt is a pharmaceutical and biotechnology company and its businesses include the manufacture and marketing of pharmaceutical and bio-pharmaceutical formulations, active pharmaceutical ingredients (APIs) and vaccines. It shed 45 percent in the last 1 year.

Medplus Health Services: According to the brokerage, The company's promoters have pledged 50.5 percent of their holdings, as per the December quarter. This figure was the same in the September quarter and 53.8 percent in the June quarter. The total value of the pledged promoter holding for the firm stands at ₹1,500 crore. MedPlus Health Services Limited engages in the retail trading of medicines and general items in India. It offers pharmaceutical and wellness products, including medicines, vitamins, medical devices, and test kits. The stock has fallen nearly 40 percent in the last 1 year.

First Published: 21 Feb 2023, 04:00 PM IST