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BSE, NSE to place Pfizer, 2 others under ASM framework from Aug 30

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Press Trust of India New Delhi
Leading exchanges BSE and NSE said they will place pharmaceutical major Pfizer Ltd and Adani Transmission under the additional surveillance measure (ASM) framework from tomorrow.
While both the exchanges have shortlisted Pfizer Ltd and Adani Transmission Ltd for the enhanced surveillance measure, the BSE has named Accel Ltd as well.
In two separate communications, the exchanges said that a price band of 5 per cent will be applicable from August 30 on the firms placed under the ASM framework.
In a notice, the BSE said: "100 per cent margins shall be applicable with effect from September 5, 2018, on all open positions as on September 4, 2018 and new positions created from September 5, 2018 onwards."

The securities which are placed under the ASM framework "would be reviewed on bimonthly or periodic basis", the NSE said in a circular.
In order to enhance market integrity and safeguard investors interest, the Securities and Exchange Board of India and the exchanges have been introducing various enhanced pre-emptive surveillance measures such as reduction in price band, periodic call auction and transfer of securities to trade-to-trade category from time to time.
The ASM framework will be in conjunction with all other prevailing surveillance measures being imposed by the exchanges from time to time.
"Also, it may also be noted that the shortlisting of securities under aforesaid framework is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company/ entity," the BSE said.

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First Published: Aug 29 2018 | 7:55 PM IST

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