BackNSE, BSE to move Adani Green Energy to first stage of surveillance framework
On March 28, both the exchanges had put Adani Green Energy under the second stage of the long term Additional Surveillance Measure (ASM) framework.
PremiumThe National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have announced that Adani Green Energy will be moved to the first stage of the long-term additional surveillance measure framework from April 10, as reported by PTI.
This comes after the exchanges had previously placed Adani Green Energy under the second stage of the framework on March 28.
On March 28, both exchanges put Adani Green Energy under the second stage of the long-term Additional Surveillance Measure (ASM) framework.
In two separate circulars, the bourses said Adani Green Energy will continue in the framework but will be moved to respective lower stage ASM from April 10.
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.
Meanwhile, stocks of all the 10 listed firms of the Adani group on Thursday ended the day in the positive territory, with Adani Transmission, Adani Green Energy, Adani Total Gas and NDTV each climbing 5 per cent.
Many of the group firms hit their upper circuit limits during the day.
Following the release of a report by US-based short seller Hindenburg Research, the group stocks have recovered significantly in the last few trading sessions.
The report had made numerous allegations against the group, including fraudulent transactions and manipulation of share prices. The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
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