As many as three Adani Group corporations, together with Adani Enterprises, have come below short-term further surveillance measure (ASM) framework of the BSE and NSE, based on the most recent information obtainable with the exchanges on February 2.
Apart from Adani Enterprises, the opposite two companies listed by the exchanges are Adani Ports and Special Economic Zone and Ambuja Cements.
The parameters for shortlisting securities below ASM embrace high-low variation, consumer focus, variety of value band hits, close-to-close value variation and price-earning ratio.
The National Stock Exchange and the BSE stated these corporations have happy the standards for inclusion in short-term further surveillance measure or ASM.
Under the short-term ASM, the exchanges stated “applicable rate of margin shall be 50 per cent or existing margin whichever is higher, subject to maximum rate of margin capped at 100 per cent, with effect from February 6, 2023 on all open positions as on February 3, 2023 and new positions created from February 6, 2023”.
Market consultants consider that placing on this framework means intra-day buying and selling would require 100% upfront margin.
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The exchanges additionally famous that the shortlisting of securities below ASM is only on account of market surveillance, and it shouldn’t be construed as an hostile motion in opposition to the involved firm or entity.
Source: www.thehindu.com