NDTV brought under short-term stage-1 ASM framework from May 30; details here
NSE stated in its circular that the shortlisting of securities under the ASM framework was purely on account of market surveillance.
PremiumNew Delhi Television Limited (NDTV) has been shortlisted for short-term Additional Surveillance Measure Framework Stage – 1, with effect from May 30, according to a circular released by the National Stock Exchange (NSE). The other stock that has been brought under the short-term ASM framework is Manaksia Coated Metals & Industries, with effect from the same date above.
The circular detailed the surveillance actions under this framework: “Applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100% w.e.f May 31, 2023 on all open positions as on May 30, 2023 and new positions created on May 31, 2023."
Also Read: Adani-owned NDTV share price down over 1% as Q4FY23 net profit slumps 97%
Medico Remedies, Lakshmi Finance & Industrial Corporation, MBL Infrastructure and Sah Polymers have been shortlisted under the Long-term ASM Framework Stage-I, with effect from May 30, according to a separate circular issued by the the stock exchange.
This circular added that “securities qualifying under criteria VII (Scrips shifted to Stage IV) shall be shifted from Rolling Settlement segment (Series: EQ) to Trade-for-Trade segment (Series: BE) w.e.f June 1, 2022".
NSE stated in its circular that the shortlisting of securities under the ASM framework was purely on account of market surveillance, and that it should not be construed as an adverse action against the concerned company or entity.
During the January-March quarter of fiscal 2022-23, the broadcaster reported a 98 per cent plunge in net profit to ₹59 lakh on weak advertising demand. The firm's revenue from operations dropped 35.5 per cent to ₹6,690 lakhs due to slowdown in global advertising spend. The total expenses rose 5.9 per cent on production and service costs.
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