‘Share unpledging’ or release of pledged shares refers to an act of removal of a pledge that was earlier made on the shares. Situations that trigger unpledging are repayment of dues and clearance of the outstanding loans against the pledge shares.
Listed below are three stocks that reduced their pledged shares to ‘zero’ during the quarter ended September 2023:
Dixon Technologies (India) Limited
With a market capitalization of Rs 32,516.95 crores, the stocks of Dixon Technologies (India) Limited, engaged in manufacturing products in the consumer durables, lighting, and mobile phones markets in India, are currently trading at Rs 5,439.65, gaining around 0.70 percent as compared to the previous close of Rs 5,401.05 apiece.
Comparing the shareholding pattern of the company for the previous two financial quarters, the Promoters of the company have completely brought down their existing pledge shares (in percentage of Promoter’s shares) from 1.13 percent during the June 2023 quarter to ‘nil’ percent during the September 2023 quarter.
Servotech Power Systems Limited
With a market capitalization of Rs 1,668 crores, the stocks of Servotech Power Systems Limited, engaged in manufacturing LED lighting solutions, are currently trading at Rs 78.40, gaining around 0.90 percent as compared to the previous close of Rs 77.75 apiece.
Comparing the shareholding pattern of the company for the previous two financial quarters, the Promoters of the company have completely brought down their existing pledge shares (in percentage of Promoter’s shares) from 11.34 percent during the June 2023 quarter to ‘nil’ percent during the September 2023 quarter.
Sobha Limited
With a market capitalization of Rs 8,357.82 crores, the stocks of Sobha Limited, engaged in construction to operations of townships, housing projects, commercial premises, etc, are currently trading at Rs 881.20, slipping around 0.40 percent as compared to the previous close of Rs 884.95 apiece.
Comparing the shareholding pattern of the company for the previous two financial quarters, the Promoters of the company have completely brought down their existing pledge shares (in percentage of Promoter’s shares) from 20.17 percent during the June 2023 quarter to ‘nil’ percent during the September 2023 quarter.
Written by Amit Madnani
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