 "Street signs: India out of $100-bn club, Raymond stock rise, and more")
Pledged shares compound woes
Shares of several companies have witnessed a huge sell-off in recent weeks. The situation has gotten tricky — both for lenders as well as borrowers — in case of companies where a large number of shares are pledged.
Non-banking firms, which typically lend against shares, themselves are facing a liquidity crunch. On the other hand, a lot of highly-indebted companies with high share pledging have seen their stock prices nosedive. “The situation has become very delicate. Things could implode if liquidity and stock market conditions don’t improve,” said an analyst.
— Samie Modak
Dividend bounty in Raymond?
