Three group companies, including Adani Enterprises, involved in monitoring stock markets

Three Adani group companies, including Adani Enterprises, have undergone short-term Additional System Monitoring (ASM) from the BSE and NSE stock exchanges amid a sharp drop in shares. According to the latest information received from the country’s two major stock exchanges on Thursday, in addition to Adani Enterprises, Adani Ports & SEZ and Ambuja Cements have also joined the ASM format.

According to market experts, for a stock to enter the ASM regime, it means that an initial margin of 100 percent will be required for the stock to be traded within one trading day. Under this agreement, stocks are selected on the basis of the wide divergence between the high and the low, the concentration of buyers, the number of price range touches, the wide divergence from the previous close on the day of the market close and the price-earnings (PE) ratio. rules are followed.

The National Stock Exchange (NSE) and BSE said the three Adani group companies have satisfactorily met the conditions to be part of the enhanced near-term monitoring measure. Along with this, the stock exchanges said that the selection of the company under ASM is made solely on the basis of market monitoring and should not be seen as an adverse move against that company. Shares of all Adani Group companies have been hit after a report by US investment research firm Hindenburg Research made serious allegations. The share price of the group’s main company, Adani Enterprises, has fallen by almost 60 percent.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.