By Aditya Raghunath
Investing.com -- Promoters pledge their shares for a variety of reasons, it could be for personal expenses or to raise funds for new businesses or raise additional funds for the main business. The COVID-19 pandemic has impacted the whole industry and promoters may have been forced to pledge their shares to tide over the financial impact of the pandemic.
Generally, when share prices of a stock go up, it gives promoters headroom to lower their pledged shares thank to the increase in valuation in their equity too. However, this time the pledged shares of promoters for certain companies continue to remain high, according to Primeinfobase.com.
- Hindustan Zinc Ltd. (NS: HZNC )
Share price on December 31, 2020: Rs 239.05
Share price on June 4, 2021: Rs 333.25
Percentage gain: 40%
Pledged share percentage: 22.83%
- Adani Power Ltd (NS: ADAN )
Share price on December 31, 2020: Rs 49.8
Share price on June 4, 2021: Rs 105.75
Percentage gain: 112%
Pledged share percentage: 28.6%
- Indus Towers Ltd (NS: INUS )
Share price on December 31, 2020: Rs 229.9
Share price on June 4, 2021: Rs 247.9
Percentage gain: 8%
Pledged share percentage: 40.26%
- Jindal Steel & Power Ltd (NS: JNSP )
Share price on December 31, 2020: Rs 266.45
Share price on June 4, 2021: Rs 397.9
Percentage gain: 49%
Pledged share percentage: 40.8%
- Ruchi Soya Industries Ltd (NS: RCSY )
Share price on December 31, 2020: Rs 674.25
Share price on June 4, 2021: Rs 1,195.25
Percentage gain: 77%
Pledged share percentage: 82.96%
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