The clarification comes following a report suggesting that Reliance Capital has pledged 22 per cent of its stake in RNAM.
A weak mutual funds (MFs) space and struggling non-banking financial companies (NBFCs) have triggered the surge as stakeholders turn risk averse
In early 2019 SEBI mandated mark to market fair valuation in liquid funds that uncovered the problematic debt papers in these schemes.
Overall, there were 45 companies in which the percentage of promoter holding decreased in June 2019. Promoters of 7 companies reduced their pledged shares to zero
This comes in the wake of the recent spotlight on mutual funds’ exposure to loan against share (LAS) schemes. These involve debt mutual funds investing in papers of little-known companies on the backing of promoter shares.
As the market realises that a company’s share price is under pressure, it becomes increasingly difficult for these firms to raise funds, particularly fresh equity capital
The division bench suggested the parties concerned to try resolving the dispute out of court and said it would hear the petition after two weeks.
Any weakness in the stock triggers margin calls and if promoters are unable to meet them, it triggers off a vicious cycle of falling prices prompting more selling
Inability of the market operators to meet the margin calls would have prompted the lenders to dump the stock, brokers said
The shares of HDIL surged over 4 percent on the news of promoters revoking all pledged equity shares with IL&FS Trust Co.
The new RBI guidelines could make life tough for many stock market operators and promoters who manipulate stock prices using borrowed money
Promoters hold 30.14 percent stake in Kingfisher, as per the company's December quarter shareholding pattern. Burdened under huge losses and large debts, the airline stopped flying in October 2012 and its flying licence also lapsed about two months later.
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.”
News of promoters offloading their pledged shares in the market is only market gossip, says chairman of the company, Pradeep Jain to CNBC-TV18.
A lot of individual midcap stocks have been torn apart these last few days. In an interview to CNBC-TV18, Dinesh Thakkar, chairman and managing director of Angel Broking and Nirmal Jain, chairman at IIFL discuss the pain in the midcap shares, and the possible pledged share pain.
It may be the largest spirits company in the world, but shareholders of United Spirits have had nothing to say cheers of late.
Shares of Deccan chronicle have surged 5%, bringing it back in the spotlight on buyback reports. As of March-end, promoters held 63.4% equity. Now, they have repurchased additional 4.6% stocks to increase their holding to 68% at present. The positive aspect of the latest development is that none of the promoters' shares are pledged.
The markets have been reacting to fears of pledged shares being sold off upon falling short of the margins allotted by the brokers. Jagannadham Thununguntla, Head of Research, SMC Global joins CNBC-TV18 to discuss the issue.
In a recent report, broking firm Nirmal Bang listed out 50 companies in the Futures and Options segment that are witnessing huge selling pressure. The reason: These companies have more than 25% of promoter holding pledged in the market.