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

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: