Stock Pickings: Here's a list of 8 companies with over 50% pledged promoter holding as of June quarter

Team MintGenie
Updated: 24 Aug 2022, 09:12 AM IST
TL;DR.

In an analysis of pledged holdings of BSE-500 stocks, Kotak Institutional Equities noted that the value of the promoter pledged holding as a percentage of promoter holding declined to 1.5 percent in the June quarter from 1.7 percent in March 2022 quarter. Promoters of 81 companies in the BSE-500 Index have pledged part of their holdings in the June 2022 quarter but only three companies had more than 80 percent of their promoter holdings pledged, it added. The value of pledged promoter holdings stood at ₹1.7 lakh crore, said the brokerage. It 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 the highest promoter pledged holding in the June quarter:

Thyrocare Tech: The company's promoters have pledged 92.9 percent of their holding as per the June quarter data, the brokerage said. It has the 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 ₹2,170 crore. Thyrocare Technologies Limited provides diagnostic testing services to patients, laboratories, and hospitals in India. The stock lost half of its investor wealth in the last 1 year.

Max Financial Services: According to the brokerage, the company's pledged promoter holdings stand at 88.9 percent in the June quarter. It has the second highest percentage of pledged promoter holding in the quarter under review, the brokerage noted. The pledged promotor holding in the March quarter for the firm stood at 87.2 percent, meanwhile, in the June quarter last year, this figure was 62.2 percent. The total value of the pledged promoter holding for the firm stands at ₹3,530 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 23 percent in the last 1 year.

Suzlon Energy: As per Kotak, the company's promoter pledged 88.5 percent of their holding as per the June quarter data. The pledged promotor holding for the firm has remained the same since the June quarter of last year. The total value of the pledged promoter holding for the firm stands at ₹890 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 jumped nearly 50 percent in the last 1 year.

Sundaram Clayton: The brokerage noted that the percentage of pledged promoter holdings for the firm, as per the June quarter, is 63.5 percent. It was the same in the March quarter. The total value of the pledged promoter holding for the firm stands at ₹4,180 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 26 percent in the last 1 year.

Strides Pharma: As per Kotak, the company's pledged holding as a percentage of promoter holdings for the June quarter is 62.2 percent, up from 56.7 percent in the March quarter and 26 percent in the June quarter last year. The total value of the pledged promoter holding for the firm stands at ₹560 crore. Strides Pharma Science is an India-based pharmaceutical company focused on the development and manufacture of IP-led niche and pharmaceutical products. It has cracked 43 percent in the last 1 year.

Medplus Health Services: According to the brokerage, The company's promoters have pledged 53.8 percent of their holdings, as per the June quarter. This figure was 26.9 percent in the March quarter, as well as in the December quarter. The total value of the pledged promoter holding for the firm stands at ₹1,990 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 was listed in December 2021 at a 30 percent premium, since then it has lost over 32 percent.

Kalpatru Power: Kotak stated that the pledged promoter holding percentage in the company stood at 52 percent in the June quarter, up from 51.8 percent in the March quarter and 45.9 percent in the June quarter last year. The total value of the pledged promoter holding for the firm stands at ₹1,420 crore. Kalpataru Power Transmission is an engineering, procurement, and construction (EPC) contracting company engaged in the business of power transmission and infrastructure EPC space. It has shed 10 percent in the last 1 year.

Max Healthcare: The company's total pledged holdings as a percentage of promoter holdings in the June quarter stands at 51.2 percent, Kotak said. This figure was the same in the March quarter, but it was at 42.7 percent in the December 2021 quarter. The total value of the pledged promoter holding for the firm stands at ₹9,220 crore. Max Healthcare Institute provides healthcare services in India includingvarious specialties, including cancer care/oncology, cardiac sciences, neuro sciences, and liver transplant, among others. It has risen nearly 15 percent in the last 1 year.

First Published: 24 Aug 2022, 09:12 AM IST