These 6 companies' promoters reduce their pledged share; stocks surge up to 100% so far in FY23

There were about 22 companies on the BSE 500 list where promoters reduced their percentage of share pledging in the September quarter as compared to the June quarter. ET Markets found 15 stocks have given positive share price return so far in FY23 and among them, six stocks have gained anywhere between 35 and 100% (Data Source: ACE Equity)

Promoters pledge the share to raise funds for business expansion. Companies with high promoter pledging tend to witness high volatility in their stock prices while reducing pledged shares is likely to minimize the investors' risk.

Adani Enterprises | share price return so far in FY23 : 100%
Pledge as a percentage of promoter shares reduce in the September quarter to 2.66% as against 3.79% in the June quarter.
CMP: Rs 4031

Adani Power | share price return so far in FY23: 76%
Pledge as a percentage of promoter shares reduced in the September quarter to 25.01% as against 25.33% in the June quarter.
CMP: Rs 325

Lemon Tree Hotels | share price return so far in FY23: 49%
Pledge as a percentage of promoter shares reduced in the September quarter to 11.88% as against 14.72% in the June quarter.
CMP: Rs 94

Asahi India Glass | share price return so far in FY23: 41%
Pledge as a percentage of promoter shares reduced in the September quarter to 4.28% as against 6.09% in the June quarter.
CMP: Rs 608

Kalpataru Power Transmission | share price return so far in FY23: 39%
Pledge as a percentage of promoter shares reduced in the September quarter to 50.39% as against 52.03% in the June quarter.
CMP: Rs 510

NCC | share price return so far in FY23: 35%
Pledge as a percentage of promoter shares reduced in the September quarter to 11.14% as against 19.05% in the June quarter.
CMP: Rs 79

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