Pledge activities of corporations and other established institutions are closely tracked by various analysts as it implies the behavioral effect of retail investors, i.e., boosting their confidence in the company’s stock.
Listed below are four stocks under the ‘Large-Cap’ category in which the Promoters of the company increased their pledged shares, as a percentage of their shareholding, during the quarter ended December 2023:
Asian Paints Limited
With a market capitalization of Rs 2.83 lakh crores, the stocks of Asian Paints Limited, one of the largest home decor companies in India, closed at Rs 2,952.15 on Friday, gaining around 0.80 percent as compared to the previous closing levels of Rs 2,929.95 apiece.
Having a glance at the latest shareholding data of the company, the Promoters, during the December 2023 quarter, increased their pledged number of shares by 0.09 percent, i.e., from a pledge of 6.49 percent of shares during the September 2023 quarter to a pledge of 6.58 percent of shares during December 2023.
JSW Steel Limited
With a market capitalization of Rs 1.99 lakh crores, the stocks of JSW Steel Limited, engaged in the business of manufacture and sale of iron and steel products, closed at Rs 811.90 on Friday, slipping around 1.30 percent as compared to the previous closing levels of Rs 822.35 apiece.
Having a glance at the latest shareholding data of the company, the Promoters, during the December 2023 quarter, increased their pledged number of shares by 0.68 percent, i.e., from a pledge of 14.12 percent of shares during the September 2023 quarter to a pledge of 14.8 percent of shares during December 2023.
Siemens Limited
With a market capitalization of Rs 1.52 lakh crores, the stocks of Siemens Limited, offering different products and integrated solutions with industrial applications in manufacturing industries, etc, closed at Rs 4,276.60 on Friday, gaining around 1.30 percent as compared to the previous closing levels of Rs 4,220.35 apiece.
Having a glance at the latest shareholding data of the company, the Promoters, during the December 2023 quarter, increased their pledged number of shares by 6.67 percent, i.e., from a pledge of ‘nil’ percent of shares during the September 2023 quarter to a pledge of 6.67 percent of shares during December 2023.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
