BSE, NSE put Adani Enterprises under short-term ASM framework

PTI | New Delhi | Updated: 24-05-2023 21:00 IST | Created: 24-05-2023 21:00 IST
BSE, NSE put Adani Enterprises under short-term ASM framework

Leading bourses BSE and NSE will put the securities of Adani Enterprises under the short-term ASM framework from Thursday.

The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.

Adani Enterprises Ltd is shortlisted in short-term Additional Surveillance Measure (ASM) framework Stage-I effective from May 25, the National Stock Exchange (NSE) and the BSE said in two separate circulars on Wednesday.

Under the short-term ASM, the exchanges said, ''applicable rate of margin shall be 50 per cent or existing margin whichever is higher, subject to maximum rate of margin capped at 100 per cent, with effect from May 26, 2023 on all open positions as on May 25, 2023 and new positions created from May 26, 2023.'' In March, NSE and BSE removed Adani Enterprises from the short-term ASM framework.

On Wednesday, Adani Enterprises stock tumbled 5.90 per cent on the BSE. In the past three days, the stock had jumped 39.41 per cent after a Supreme Court-appointed panel found no evidence of stock price manipulation in the group companies.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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