Three Adani group shares under NSE’s additional surveillance; two group stocks moved to stage 2 of long-term ASM
时间:2024-06-29 02:20:04 阅读(143)
Adani Enterprises, Adani Power, and Adani Wilmar have been included under the National Stock Exchange’s short-term additional surveillance measures (ASM) framework from Thursday. The update came two days after it was announced that Adani Enterprises would be excluded from the exchange’s ASM. The decision to add the firms’ shares into the surveillance framework is following the steep rise in the share price over the past few sessions.
Adani Green Energy and NDTV shares will be moved to stage 2 of NSE’s long-term ASM framework, according to a circular released by the exchange. Last month, Adani Ports and SEZ and Ambuja Cements were also placed under the short-term additional surveillance measure to reduce the heightened volatility faced by the stocks following the US financial forensic research firm, Hindenburg Research’s scathing report, alleging the Group of large-scale fraud and stock market manipulation. However, the two companies were removed from the framework on 13 February.
SEBI and the exchanges jointly introduced the ASM framework to “alert and advise investors to be extra cautious when dealing in these securities” according to an NSE circular. Certain trading restrictions are imposed on stocks that fall under the framework. “Applicable rate of margin shall be 50% or existing margin, whichever is higher, subject to maximum rate of margin capped at 100% with effect from March 10, 2023 on all open positions as on March 9, 2023 and new positions created from March 10, 2023,” said NSE on the actions under the short-term ASM framework. This seeks to deter traders from taking excessive risks and reduce volatility, since the liquidity will reduce.
Adani Enterprises closed at its monthly high on Wednesday, extending gains for the sixth straight session, following the announcement that the company repaid its share-based funding of Rs 7,374 crore and would pay back all its outstanding debts. The shares of the company closed at Rs 2,039, up 2.83% on the NSE.
(The stock recommendations in this story are by the respective research analysts and brokerage firms. FinancialExpress.com does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)
猜你喜欢
- World welcomes 2023! Sydney’s stunning fireworks to Delhi’s dazzling India Gate – See top pics
- India still Asia’s best long-term structural story, says Chris Wood; recommends buying stocks on declines
- Wipro Q4FY23 net profit falls to Rs 3,149 crore, revenue at Rs 23,190 crore; Rs 12,000 crore buyback approved
- Reliance Industries, Sun Pharma, HDFC Bank, Wipro, Adani Ports, ICICI Bank stocks in focus
- India Mourns the Loss of Brigadier AJS Behl- A Tribute to a Gallant Soldier
- Will Nifty slip below 19000 amidst weak global cues- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
- Indian Gas Exchange gets nod to trade in domestic natural gas
- Indian bond yields seen little changed, higher US yields hurt
- RBI asks banks to periodically launch special drive to locate customers, reduce unclaimed deposits