Pledge–Risk ‘O’ meter–(Q3FY17) Feb-18-EDEL

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Pledge–Risk ‘O’ meter–(Q3FY18) 26-Feb-18-EDEL

Key highlights
Prominent names that saw an increase in promoter pledging were Reliance Capital (RCAPT), JSW Steel (JSTL) and Max Financial (MAXF). Partial revoke was seen in Crompton Greaves Consumer (CROMPTON), Bombay Burmah (BBTC) and Jubilant Food (JUBI).

Complete revoke was seen in VIP Clothing (VIPCL), Bannari Amman Sugar (BNRI) and Hind Motors (HM). Notable names with promoter pledge holdings in the 90s were Bajaj Hindusthan (BJHI; 100%), Reliance Naval Eng (RNAVAL; 100%), CG Power & Industrial (CGPOWER; 100%) and Jindal Stainless (JDSL; 91.4%).

Among the midcaps, promoters revoked pledge partially in Prime Focus (PRIF), Reliance Communication (RCOM), Future Lifestyle (FLFL) and Jubilant Food (JUBI). Midcaps where incremental promoter pledging was seen were Reliance Power (RPWR) and Reliance Capital (RCAPT). In the F&O universe, 59 companies have reported promoter pledge holdings.

Between Q2FY18 and Q3FY18, 16 companies have seen incremental pledging activity. Notable names were Reliance Capital (RCAPT; 68.4% versus 34.24%), JSW Steel (JSTL; 47.8% versus 39.7%), Max Financial (MAXF; 73.9% versus 67.6%).

Partial revoke was seen in 22 companies with key names being Jubilant Foods (JUBI; 17.6% versus 26.14%), Granules India (GRAN; 31.6% versus 78.1%) and Dish TV (DITV; 60.3% versus 67.9%).

Eye Catchers

Walking on tight rope - Companies where promoter % pledge in high 90s

DQ Entertain. (100%) vs (100%), JCT (99.85%) vs (99.79%), JBF Inds. (99.74%) vs (99.75%), Hind.Natl.Glass (96.5%) vs (100%), Alok Inds. (95.52%) vs (95.69%), Hotel Leela Ven. (94%) vs (94%), Bajaj Hindusthan (100%) vs (100%), JMT Auto (100%) vs (100%), Arshiya (100%) vs (91.46%), Reliance Nav.Eng (100%) vs (100%)

Skating on thin ice - Companies where promoter % pledge has risen more than 5% and warrant attention

Reliance Capital (68.42%) vs (34.18%), Max Financial (73.85%) vs (67.65%), JSW Steel (47.76%) vs (39.65%), Reliance Power (70.13%) vs (64.39%), Satin Creditcare (30.08%) vs (23.2%), Reliance Home (22.17%) vs (10.85%), Bajaj Corp (55.7%) vs (50.12%), JSW Holdings (18.48%) vs (0%), Patel Engineering (93.9%) vs (0%), SKIL Infrastructure (91.64%) vs (91.64%)

Dark clouds on the horizon - Companies where promoters have pledged for the first time in 2 quarters

Garden Silk Mill (88.36%) vs (0%), Cineline India (25.78%) vs (0%), SRF (3.06%) vs (0%), JSW Holdings (18.48%) vs (0%), Patel Engineering. (93.9)% vs (0)%, Technofab Engineering (24.15)% vs (0)%, Genus Power (3.08)% vs (0)%, Century Textiles (4.92)% vs (0)%, Mold-Tek Pack. (3.03%) vs (0%)

Coming out of the woods - Companies where promoter % pledge has fallen more than 5%

AGC Networks (0%) vs (100%), Subex (10.45%) vs (100%),Granules India (31.55%) vs (78.07%), Ramky Infra (46.16%) vs (89.16%), Future Lifestyle (12.13%) vs (49.8%), Reliance Communication (32.5%) vs (60.93%), Crompton Greaves Consumer (42.47%) vs (64.99%), Bombay Burmah (6.15%) vs (28.18%), Mercator (52.22%) vs (73.92%), Zee Learn (67.91%) vs (78.36%)

Blue sky scenario - Companies with no promoter pledge & where promoter stake has increased

Cimmco (81.53%) vs (74.93%), Idea Cellular (47.16%) vs (42.38%), Balkrishna Inds (58.3%) vs (54.37%), Waterbase (63.67%) vs (61.01%), WPIL (64.08%) vs (62.25%), Wipro (74.33%) vs (73.18%), Ultramarine Pigments (53.26%) vs (52.56%), Smartlink Network (74.44%) vs (72.77%), The Byke Hospitality (45.94%) vs (45.29%)

Pledge–Risk ‘O’ meter–(Q3FY17) 26-Feb-18-EDEL