The lender's appeal was for passing appropriate orders directing Sebi, NSDL and NSE to comply with the SAT's ruling last month and remove all the lock-in and all other obstacles with respect to the invocation of the pledged shares.
Promoters of Fortis Healthcare have released 4.07 crore pledged shares. With this release the pledged shares percent comes down to sub 40 percent of the total number of shares from 48 percent as of the quarter ended June 2013.
United Spirits shares have moved up around 6 percent to Rs 1920 in the past one week in an otherwise slow market, after lenders to Kingfisher Airlines indicated they may sell group company, United Spirits (USL) shares pledged with them
Country's largest software firm Tata Consultancy Services (TCS) today said its promoter Tata Sons has released 20 lakh pledged shares.
Ravi Kumar Distilleries has accused the lead manager of its last year’s initial public offering of fraud, even as the Choudharys-controlled Bilpower has bought 12.5% (30 lakh shares) in the brewer through the open market.
ICICIdirect.com has come out with its report on pledged shares. According to the research firm companies that have taken loans against shares have to provide further margin in cash or pledge more securities to maintain the margin requirement.
Santosh Nair, editor, Moneycontrol.com and Shishir Asthana of Firstpost are back with the market wrap at mid-day.
Anil Singhvi, chairman of Ican Investment Advisors says, there is a need to improve disclosures on pledged shares. “SEBI needs to expand scrutiny at the holding company level.”