NSE, BSE put Adani Green Energy under 2nd stage of longterm ASM framework

Leading bourses NSE and BSE have said that Adani Green Energy will be put under the second stage of the long-term additional surveillance measure (ASM) framework from Tuesday.

In two separate circulars, the bourses said Adani Green Energy shall continue in the ASM framework but will be moved to the respective higher stage from March 28.

The move also comes close on the heels of the two exchanges moving two group firms Adani Total Gas and Adani Transmission from the second stage of the long-term ASM framework to Stage-I on Friday.

On March 17, both exchanges put Adani Green Energy and NDTV under the first stage of the long-term ASM framework.

Meanwhile, all the 10 listed firms of the Adani group on Monday ended the day in the negative territory, with Adani Power, Adani Transmission, Adani Wilmar and Adani Total Gas each falling nearly 5 per cent.

Many of the group firms hit their lower circuit limits during the day.

The Adani group stocks have taken a beating on the exchanges since a report by US-based short-seller Hindenburg Research was published in January this year.

The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.