NSE puts 3 Adani Group stocks under additional surveillance

With a view to safeguard investors from the sharp volatility in stocks of Adani Group companies, the National Stock Exchange has moved Adani Enterprises, Adani Ports and Special Economic Zone, and Ambuja Cements under the short-term additional surveillance measure (ASM) framework.

The move is aimed at curbing speculative trades and short-selling. Trading in stocks under the short-term ASM framework will require investors to pay 100% upfront margin even for intraday trading.

The additional surveillance is part of SEBI and the Exchanges’ initiative to enhance market integrity and safeguard the interest of investors.

One of the criteria for moving a stock under this framework is if it sees a 25% downside or upside against Nifty 50 for 5 trading days.

Since Jan 25, Adani Enterprises’ share value has more than halved, and Adani Ports has shed more than 39%. Today, Adani Enterprises shares ended 27% lower in the cash market at Rs 1,565.25, and those of Adani Ports settled 7% down at Rs 462.45.

The massive sell-off in Adani Group stocks was triggered by allegations of mis-governance and stock price manipulation by US-based whistleblower Hindenburg Research

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