Promoter pledges see some increase in May

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A few brokers said promoters of some small companies were raising funds by pledging shares to invest in the stock market.

Synopsis

Shares pledged by promoters of companies listed on the National Stock Exchange increased to 1.53% of the total market capitalisation of all the companies listed on the exchange from 1.51% in April, according to data from primeinfobase.com. In value, this increased 9.52% in May to an all-time high of Rs 3.35 lakh crore, compared with Rs 3.06 lakh crore as on April 30.

Mumbai: Pledging of shares by promoters has increased marginally in May from the preceding month, despite the stock markets gaining 6.5% and trading close to their lifetime highs.

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Shares pledged by promoters of companies listed on the National Stock Exchange increased to 1.53% of the total market capitalisation of all the companies listed on the exchange from 1.51% in April, according to data from primeinfobase.com. In value, this increased

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