IndusInd Bank, Adani Power among 8 large & midcap firms where promoters pledge increased in Q2
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Taking Stock
Pledging of shares is one of the options that the promoters of companies use to secure loans to meet working capital requirements, and personal needs and fund other ventures or acquisitions. Here's is a list of 8 large and midcap firms where promoters' pledges went up in Q2 FY24, according to StockEdge data:
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IndusInd Bank
IndusInd Bank promoters' pledge increased by 1.8% in the September quarter. Promoters' pledged holdings were 45.5% in the June quarter of FY24, which surged to 47.3% in the September quarter of FY24.
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Ramco Cements
Ramco Cements promoters' pledge went up by 1.1% in Q2. Promoters' pledged holdings were 21.1% in Q1 FY24, which increased to 22.2% in Q2 FY24.
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Adani power
Adani Power promoters' pledge surged by 0.9% in Q2. Promoters' pledged holdings were 25.1% in the June quarter, which increased to 26% in the September quarter of FY24.
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Samvardhana Motherson
Samvardhana Motherson International promoters' pledge increased by 0.4%. Promoters' pledged holdings were 1.9% in the June quarter, which rose to 2.3% in the September quarter of FY24.
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Aurobindo Pharma
Aurobindo Pharma's pledge rose by 0.4% in Q2. Promoters' pledged holdings were 19.2% in Q1 FY24, which Increased to 19.6% in Q2 FY24.
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JSW Energy
JSW Energy's pledge increased by 0.3%. Promoters' pledged holdings were 12.4% in the June quarter, which surged to 12.8% in the September quarter of FY24.
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Jubilant FoodWorks
Jubilant FoodWorks' pledge increased by 0.2%. Promoters' pledged holdings were 0.6% in the June quarter, which increased to 0.8% in Q2 FY24.
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Sun Pharma
Sun Pharma promoters' pledge increased by 0.1% in the September quarter. Promoters' pledged holdings were 2.3% in the June quarter of FY24, which surged to 2.4% in the September quarter of FY24.