Home/ Markets / Stock Markets/  Adani Power stock to be put under short term additional surveillance measure framework (ASM) again

New Delhi: NSE and BSE will include Adani Power under the short-term additional surveillance measure (ASM) framework from today. Adani Power is shortlisted in short-term ASM framework Stage-I effective March 23, according to separate circulars available on the exchanges.

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.

The NSE and BSE said Adani Power has satisfied the criteria for inclusion under short-term ASM.

Adani Power had come out of the short-term ASM framework on March 17, along with Adani Enterprises Ltd. and Adani Wilmar Ltd. stocks. These three stocks were added to the framework on March 9.

Currently, there is no Adani group stock in the short-term ASM framework.

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, w.e.f. March 24, 2023 on all open positions as on March 23, 2023 and new positions created from March 24, 2023."

Meanwhile, stocks of eight Adani group companies out of the 10 listed entities closed in the green territory on Wednesday.

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.

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Updated: 23 Mar 2023, 06:57 AM IST
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