Adani Group 2 Stocks Will Be Transferred To ASM Stage 1 Category From Monday

Adani Group Shares: A day earlier, three stocks were removed from the ASM framework i.e. monitoring and the stock exchange has informed that two more stocks will be transferred from the second stage of the ASM framework to the first stage. This process will be done from Monday i.e. March 20, 2023.

BSE and NSE have said in their circulars that the shares of the two companies will be shifted from the long-term ASM Framework Stage II to Stage I with effect from March 20. Only last week, both these shares were transferred to the long-term ASM Framework Stage II.

What are the shares of Adani?

These shares of Adani Group are NDTV and Adani Green Energy. Keeping it in stage one means these stocks will be kept under the price band of 5 per cent or less. Whereas VAR margin will be levied at the rate of 100 per cent. On March 17, three Adani group stocks were removed from the short-term ASM framework of the National Stock Exchange. This includes Adani Power, Adani Wilmar and Adani Enterprises.

These shares are also under additional surveillance

During the last month, Adani Ports and SEZ and Ambuja Cements were also placed under short-term additional monitoring measure to control volatility in stocks.

Why shares are kept in asm framework

ASM is an initiative of SEBI and the exchanges, in which stocks are moved to either short term or long term time frames to protect the interest of the investors. Adani Group’s stock has been placed under the ASM framework due to high volatility following the Hindenburg report.

How were the stocks of Adani Group

Shares of Adani Transmission rose 5 per cent to Rs 1024.85, Adani Wilmar rose 1.52 per cent to close at Rs 427.35 on the BSE. While Adani Power closed at Rs 199.95, up 1.20 per cent and Ambuja Cement remained flat at Rs 378.25. Adani Enterprises Limited was trading up 1.88 at Rs 1,877.15. Shares of Adani Green Energy closed at Rs 816.80, up 4.99 per cent. And NDTV fell 1.63 to close at Rs 205.70.

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