New Delhi: Leading Exchange National Stock Exchange ,nse) on Tuesday increased the price band by four Adani Group firms, including Adani Power And Adani Transmission,
According to a circular, the changes, which will be effective from Wednesday, will ensure that the price of the scrip cannot move above or below the prescribed limit for the day.
NSE has increased the circuit limit Adani Power up to a maximum of 20 percent over current range of 5 percent.
Besides this, the exchange has increased the circuit limit for Adani Wilmar, Adani Green Energy and Adani Transmission to 10 per cent from the current level of 5 per cent.
The exchange has decided to revise the circuit limit of a total of 172 companies.
In January, BSE and NSE had reduced the circuit limits of Adani Transmission, Adani Green Energy and Adani Total Gas.
Generally, exchanges set circuit limits to prevent large fluctuations in the price of shares in a very short period of time.
The decision was taken after Adani shares took a massive beating following allegations made by US-based Hindenburg Research against the group.
The Hindenburg Report alleged stock manipulation and fraud by the group. Adani Group attacked Hindenburg as “an unethical short seller”, saying the New York-based entity’s reports were “nothing but lies”.
According to a circular, the changes, which will be effective from Wednesday, will ensure that the price of the scrip cannot move above or below the prescribed limit for the day.
NSE has increased the circuit limit Adani Power up to a maximum of 20 percent over current range of 5 percent.
Besides this, the exchange has increased the circuit limit for Adani Wilmar, Adani Green Energy and Adani Transmission to 10 per cent from the current level of 5 per cent.
The exchange has decided to revise the circuit limit of a total of 172 companies.
In January, BSE and NSE had reduced the circuit limits of Adani Transmission, Adani Green Energy and Adani Total Gas.
Generally, exchanges set circuit limits to prevent large fluctuations in the price of shares in a very short period of time.
The decision was taken after Adani shares took a massive beating following allegations made by US-based Hindenburg Research against the group.
The Hindenburg Report alleged stock manipulation and fraud by the group. Adani Group attacked Hindenburg as “an unethical short seller”, saying the New York-based entity’s reports were “nothing but lies”.