Adani Green Energy, NDTV to move to ASM stage-1 framework from Monday

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

Press Trust of India Press Trust of India New Delhi

Leading bourses NSE and BSE on Friday said two Adani group stocks -- Adani Green Energy and NDTV -- will be moved to the first stage of the long-term additional surveillance measures (ASM) framework from Monday.

These securities will continue in the framework but will be moved from long-term ASM framework Stage II to Stage I from March 20, according to separate 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

NDTV promoters may not challenge Adani group's open offer in court

Adani group becomes single-largest shareholder in NDTV with 37.4% stake

NDTV takeover a responsibility, not business opportunity: Gautam Adani

What does Gautam Adani's partial takeover of NDTV mean for television news?

The corporate push towards 'one nation, one media'

Cash-strapped Pakistan struggling to pay $290 mn to international airlines

Centre allows NTPC to invest over 30% of its networth in NTPC Green Energy

India Post, Shiprocket partner to boost e-commerce delivery services

Political background not absolute bar to appoint judge: Govt cites SC order

Startup20 Engagement Group's second meeting on March 18-19 in Sikkim

"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.

First Published: Mar 17 2023 | 10:02 PM IST