New Delhi: As three Adani group companiesInclude Adani Enterprises have come under the short-term Additional Monitoring Measures (ASM) framework of BSE and NSE, according to the latest data available with the exchanges on Thursday.
Apart from Adani Enterprises, there are two other companies listed by the exchanges – Adani Ports & Special Economic Zone and Ambuja Cements.
The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, near-to-near price variation and price-earnings ratio.
The National Stock Exchange (NSE) and BSE said these companies have met the criteria for inclusion in the short-term Additional Monitoring Measure or ASM.
Under the short term ASM, the exchanges said, “The applicable rate of margin will be 50 per cent or the existing margin whichever is higher, subject to a maximum rate of margin of 100 per cent, with effect from February 6, 2023, on all open February 3, 2023.” posts up to and new posts created with effect from 6th February, 2023”.
Market experts believe that putting in this framework would mean 100 per cent upfront margin would be required for intra-day trading.
The exchanges also noted that the shortlisting of securities under the ASM is purely due to market surveillance, and should not be construed as an adverse action against the company or entity concerned.
Meanwhile, Adani Enterprises shares fell over 26 per cent on Thursday, a day after the firm said it has decided not to go ahead with its Rs 20,000-crore follow-on public offer (FPO) and Will return income to investors. On Wednesday, the counter had fallen by more than 28 per cent.
Most other group firms also declined for the sixth day in a row on Thursday and 10 were listed Adani Group The firms have faced a combined loss of over Rs 8.76 lakh crore in the last six days.
Shares of Adani Group declined after a report by US-based Hindenburg Research alleged several allegations including fraudulent transactions and manipulation of share prices in the Gautam Adani-led group. The Adani Group has dismissed the allegations as false, adding that it complies with all laws and disclosure requirements.
Apart from Adani Enterprises, there are two other companies listed by the exchanges – Adani Ports & Special Economic Zone and Ambuja Cements.
The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, near-to-near price variation and price-earnings ratio.
The National Stock Exchange (NSE) and BSE said these companies have met the criteria for inclusion in the short-term Additional Monitoring Measure or ASM.
Under the short term ASM, the exchanges said, “The applicable rate of margin will be 50 per cent or the existing margin whichever is higher, subject to a maximum rate of margin of 100 per cent, with effect from February 6, 2023, on all open February 3, 2023.” posts up to and new posts created with effect from 6th February, 2023”.
Market experts believe that putting in this framework would mean 100 per cent upfront margin would be required for intra-day trading.
The exchanges also noted that the shortlisting of securities under the ASM is purely due to market surveillance, and should not be construed as an adverse action against the company or entity concerned.
Meanwhile, Adani Enterprises shares fell over 26 per cent on Thursday, a day after the firm said it has decided not to go ahead with its Rs 20,000-crore follow-on public offer (FPO) and Will return income to investors. On Wednesday, the counter had fallen by more than 28 per cent.
Most other group firms also declined for the sixth day in a row on Thursday and 10 were listed Adani Group The firms have faced a combined loss of over Rs 8.76 lakh crore in the last six days.
Shares of Adani Group declined after a report by US-based Hindenburg Research alleged several allegations including fraudulent transactions and manipulation of share prices in the Gautam Adani-led group. The Adani Group has dismissed the allegations as false, adding that it complies with all laws and disclosure requirements.