Collateral gains: Rally helps lower promoters’ pledges

The BSE Sensex rallied 23 per cent in the December quarter while the BSE MidCap and SmallCap indices gained 21 per cent and 26 per cent, respectively.

Synopsis

Out of 650 companies — mostly mid- and small-caps — promoters of at least 60 have released their pledged shares in the December quarter, according to data from stock exchanges.

Mumbai: The rally in stock prices over the past few months has helped promoters of smaller companies get back a portion of the shares they had pledged to raise funds.Out of 650 companies — mostly mid- and small-caps — promoters of at least 60 have released their pledged shares in the December quarter, according to data from stock exchanges.Since March last year, several promoters were forced to increase their share pledges as collateral to raise

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