Just a day back 3 stocks were removed from ASM framework ie attention and stock exchange was informed and 2 more stocks will be moved from ASM framework 2nd stage to 1st stage. This process will be done from Monday i.e. 20 March 2023. BSE and NSE said that the shares of both the companies will be moved to Stage I of the long-standing ASM Framework Stage II from March 20. Last week, both the stocks were moved to Long Term ASM Framework Stage II.
What are Adani shares?
These shares of Adani Group are NDTV and Adani Green Energy. Placing it in the first stage means placing the stock in a price band of 5 per cent or less. So VAR margin will be applicable at the rate of 100 per cent. On March 17, 3 shares of Adani Group were removed from the short-term ASM of the National Stock Exchange. This includes Adani Power, Adani Wilmar, Adani Enterprises. Also last month, shares of Adani Ports and SEZ and Ambuja Cement were also placed under short-term additional monitoring measures to control volatility.
Why share in asm?
ASM is an initiative of SEBI and the exchanges wherein stocks are placed in short or long term framework to protect the interest of the investors. Adani Group shares are placed on an ASM basis due to high volatility following the Hindenburg report.
How has Adani Group stock performed?
Shares of Adani Transmission rose 5 per cent to Rs 1,024.85, while Adani Wilmar closed 1.52 per cent higher at Rs 427.35 on the BSE. With this, Adani Power closed at Rs 199.95 and Ambuja Cement at Rs 378.25, up 1.20 per cent. Adani Enterprises Limited was trading at Rs 1877.15 with a gain of 1.88. Shares of Adani Green Energy closed at Rs 816.80, up 4.99 per cent. So NDTV closed at Rs 205.70 with a fall of 1.63.
