Pledged stocks value rises 16% to Rs 1,42,000 cr
ENS Economic Bureau: Mumbai, Nov 28 2012, 00:59 IST
The total value of stocks pledged by company promoters rose to $ 27 billion, a rise of 16 per cent on the quarter-on-quarter (QoQ) basis. In rupee terms, the total pledged value stood at Rs 1,42,000 crore, up 10 per cent, according to a Morgan Stanley note.
During the quarter ended September, 790 companies disclosed pledges on their holdings. The pledged value as a percentage of the market cap of stocks of these companies rose to its highest level in four quarters — at 10.1 per cent (up 27 bps QoQ). Its share in India’s market cap increased a tad, from 2.09 per cent in June 2012 to 2.16 per cent in September 2012, it said.
Marked to market, as per previous day’s close, the value was $26 billion, up 15 per cent QoQ without accounting for any subsequent changes that may have happened to the number of shares pledged. In rupee terms, marked to market, the pledged value of shares was Rs 144,000 crore, up 12 per cent QoQ.
Previous Story Sensex rallies on Moody’s report Next Story Wheat exports stepped up to cash in on high global prices
Reader's Comments| Post a Comment
Be the first to comment.
