3 Adani Group stocks again placed under short-term surveillance framework
Three Adani Group stocks -- Adani Enterprises, Adani Power and Adani Wilmar have been placed under the short-term additional surveillance measure (ASM) framework of the National Stock Exchange (NSE), effective from Thursday.
Three Adani Group stocks -- Adani Enterprises, Adani Power and Adani Wilmar have been placed under the short-term additional surveillance measure (ASM) framework of the National Stock Exchange (NSE), effective from Thursday.
Earlier on Monday, the National Stock Exchange (NSE) and BSE announced to move Adani Enterprises out of the short-term additional surveillance measure (ASM) framework. APSEZ and Ambuja Cements were removed from the ASM framework last month.
The move came into effect on March 8, according to the circular available with the exchanges.
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Last month, both the NSE and BSE had put three Adani Group companies, including the flagship Adani Enterprises, under the short-term additional surveillance measure framework. Apart from Adani Enterprises, the other two firms listed by the exchanges were -- Adani Ports and Special Economic Zone (APSEZ) and Ambuja Cements.
ASM measure is a pre-emptive measure by the capital market regulator Sebi and exchanges to enhance 'market integrity and safeguard the interest of investors'. ASM concerns are based on objective parameters with price, volume variation and volatility. Read more- What is ASM framework in stock market and how it affects traders? Explained
Stocks that are shortlisted for inclusion in the ASM list serve as a warning to investors about unusual price movement.
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10:28 AM IST