 "markets, promoter, companies, stake, stock market, sensex, correction, nifty, shares, growth, profit, economy, gain")
The extent of pledged promoter holding fell to a two-year low of 11.2 per cent at the end of December 2020, according to data provided by primeinfobase.com. Analysts said rising markets drove the decline.
“As stock prices have risen over the last few quarters, promoters have been able to release some of the shares out of pledge as the value of pledge has gone up. Also, some promoters could have released some of the pledged shares by raising monies from other sources and repaying lenders,” said Deepak Jasani, head-retail research, HDFC Securities.
Pranav Haldea, managing director, PRIME Database, said promoters can release
