Hindenburg report: NSE puts three Adani firms under ASM framework

The move is to shield investors against risky and speculative trades

adani group, adani
Khushboo Tiwari
1 min read Last Updated : Feb 03 2023 | 12:30 AM IST
The National Stock Exchange (NSE) on Thursday shifted Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), and Ambuja Cements to a category of stocks that require up to 100 per cent trading margins and are subject to greater scrutiny to curb short-selling.
 
The purported short-term additional surveillance measure (ST-ASM) Stage 1 will be made applicable to these stocks on new positions created, starting February 6.
 
Under this, traders cannot avail of intraday leverage and their 100 per cent traded value gets blocked as margin.
The move is to shield investors against risky and speculative trades.
 
This list of companies under ASM includes securities currently under watch for volatility and price fluctuations. 
 
The NSE in its circular notes that shortlisting of securities in ASM is purely on account of market surveillance and ‘should not be construed as an adverse action against the company concerned’.
 
APSEZ and Ambuja Cements are already in the ban period in the equity derivatives segment.
 
Further, the exchanges have also reduced the circuit filter for Adani Total, from 10 per cent to 5 per cent, implying the maximum move the stock can take in a day. 

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Adani NSEMarketsAdani GroupAdani Enterprises

Next Story