Adani Group Stocks Surveillance, important decision of BSE-NSE, know before investing money in these 2 stocks of Adani – big relief for gautam adani adani groups two stocks to be moved to asm stage 1 category from monday
Market exchanges BSE (Mumbai Stock Exchange) and NSE (National Stock Exchange) have decided to place Adani Green Energy and NDTV in the first phase of the long-term ASM framework and from Monday these two stocks will go into the first phase of the long-term ASM. As of Friday, both stocks were currently in the second phase of the long-term ASM framework. And now they will go into first phase from March 20.
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Last week, both the stock exchanges said they had moved Adani Green and NDTV from Stage II to Stage I of the long-term ASM framework. At the same time, NSE has removed Adani Power, Adani Wilmer and Adani Enterprises from the short-term ASM framework.
There was additional oversight on Adani shares
Over the past month, Adani Ports and SEZ and Ambuja Cements were also placed under short-term additional surveillance measures to bring stock volatility under control. Additional Supervisory Measures (ASM) is a form of monitoring, which is carried out by market regulator SEBI and market exchanges BSE/NSE. The main objective is to protect the interest of the investors.
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Current status of Adani shares
Adani shares closed in the green on the last trading day of the current week. Out of 10 listed stocks of Adani Group, 7 companies closed higher. Adani Group’s flagship company Adani Enterprises jumped 2 percent. The shares of Adani Group had fallen sharply after the Hindenburg report, but now the group’s shares have recovered considerably. But the shares also saw a slight decline in the last few trading sessions due to sluggish markets.
The Hindenburg report said 85% of Adani group companies were overvalued. Apart from this there were also allegations of manipulation of shares and Adani group categorically denied all the allegations. The group said it complies with all applicable laws and disclosure requirements.
