New Delhi, Nov 17 : TTK Prestige, IndusInd Bank, and The Ramco Cements saw substantial increase in pledged promoter holdings in the September quarter, as per Kotak Institutional Equities. Companies in which pledged promoter holdings declined include Suzlon Energy, Max Financial Services, Jindal Steel & Power, Sobha and Emami, among others. As per the report, cCompanies in which promoters released entire pledged holdings are Suzlon Energy, Sobha and Dixon Technologies. Companies in the Nifty-50 with more than 5 per cent of pledged promoter holdings include Apollo Hospitals (16.1 per cent), Asian Paints (6.5 per cent), IndusInd Bank (47.3 per cent) and JSW Steel (14.1 per cent). The report compares changes in pledged holdings between June 2023 and September 2023 quarters. The analysis of the pledged holdings of BSE-500 stocks shows that the value of the promoter (majority shareholder) pledged holding as a percentage of the promoter holding declined to 1.22 per cent in the September 2023 quarter from 1.36 per cent in the June 2023 quarter. Promoters of 82 companies in the BSE-500 Index have pledged part of their holdings in the September 2023 quarter. The value of pledged promoter holdings stood at Rs1.8 tn (which is about 0.61 per cent of the total BSE-500 Index's market capitalisation). The report clarifies that the pledging of shares does not necessarily imply that a company or a promoter is under financial stress; banks (lenders) could have sought additional security in the form of promoter shares. (Sanjeev Sharma can be reached at Sanjeev.s@ians.in) /IANS