Adani Green Energy, NDTV to move to ASM stage-1 category from Monday
The parameters for shortlisting securities under the ASM framework include high-low variation, client concentration, number of price band hits, close-to-close price variation and price earning ratio. NSE and BSE said these companies have satisfied the criteria for inclusion under long-term additional surveillance measures (Long-term ASM).
Adani Group's two companies -- Adani Green Energy and NDTV -- will be moved to the first stage of the long-term additional surveillance measures (ASM) framework from Monday, according to stock exchanges.
"The two securities will be moved from the long-term ASM framework Stage II to Stage I from March 20," The BSE and NSE said in their circulars. The move also comes close on the heels of the two exchanges excluding Adani Enterprises, Adani Power and Adani Wilmar under the short-term ASM on Thursday.
Last week, both NSE and BSE announced that they had moved stocks of Adani Green Energy and NDTV to long-term ASM framework Stage II from Stage I.
The parameters for shortlisting securities under the ASM framework include high-low variation, client concentration, number of price band hits, close-to-close price variation and price earning ratio.
NSE and BSE said these companies have satisfied the criteria for inclusion under long-term additional surveillance measures (Long-term ASM).
ALSO READ: Adani Transmission, Adani Total Gas placed under Stage-II of ASM framework by NSE, BSE
"Applicable rate of margin shall be 100 per cent w.e.f. March 22, 2023 on all open positions as on March 21, 2023 and new positions created from March 22, 2023 onwards. In addition, lower price band shall be applicable w.e.f. March 20, 2023," as per the exchanges.
Meanwhile, shares of seven Adani Group companies out of the ten listed entities settled higher on Friday, with Adani Enterprises jumping 2 per cent amid a positive momentum in equity markets.
At the close of the session, seven of the group firms, including Adani Enterprises, closed in the green territory while three were in the red.
After taking a beating on the bourses, following the report by US-based short seller Hindenburg Research, the group stocks had recovered. However, amid sluggish broader market trends, the group's stocks have declined in the last few trading sessions.
The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.
The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
With PTI inputs
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
09:28 AM IST