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“Adani Group’s Stocks Face New ASM Stage-1 Category: What Investors Need to Know”

According to stock exchanges, two Adani Group equities would be included in the initial phase of long-term Additional Monitoring Measures as of Monday (March 20, 2023) (ASM).

The two securities will be shifted from March 20 to Stage I of the long-term ASM framework Stage II, according to BSE and NSE circulars.

The Long-Term ASM Framework last week promoted NDTV and Adani Green Energy from Stage I to Stage II.

Three shares of the ports-to-power firm were taken out of the National Stock Exchange’s short-term ASM framework yesterday. They comprised Adani Power, Adani Wilmar and Adani Enterprises respectively.

Ambuja Cements and Adani Ports and SEZ were also subject to a short-term supplementary surveillance measure last month in an effort to reduce stock volatility.

ASM is a project of SEBI and the exchanges in which securities are transferred to either a short-term or long-term framework to safeguard the interests of investors. Due to its strong volatility after the publication of the Hindenburg report, the Adani Group stock has been included in the ASM framework.

In short term ASM, there are two phases. Stocks are eligible for examination starting on the sixth or sixteenth trading day and must be applicable for a minimum of 5 or 15 trading sessions in each leg.

No intraday leverage is provided because the securities are further watched and taken in the trade-to-trade (T2T) segment, where 100% of the traded value would be blocked as margin.

Under the ASM framework, high-low divergence, customer concentration, the frequency of price band hits, close-to-close price divergence, and price earnings ratio are among the criteria for shortlisting securities.

Four shares of the Adani Group closed on the red level on Friday, while seven shares closed on the green mark.

Adani Transmission’s stock increased 5% at the close. Adani Wilmar finished at 427.35 on the BSE, up 1.52% from 1024.85.

Market valuation of Adani Transmission climbed 1,14,321.27 crore, and that jumped to Adani Transmission 55,541.77 crores.

Adani Power gained 1.20 percent as of the end. 199.95, and Ambuja Cements closed at 378.25 per share, flat.

Moreover, shares of market leader Adani Enterprises Ltd (AEL) increased by 1.88% to 1,877.15.

In addition, Adani Green Energy’s stock ended the day up 4.99 percent. 816.80. Yet NDTV ended the day down by 1.63%. 205.70.

To close at 57,989.90, the 30-share BSE Sensex gained 355.06 points, or 0.62%. The larger NSE Nifty closed at 17,100, 0.67% higher.

After taking a beating on the exchanges, the group’s shares had corrected following a report by US-based short seller Hindenburg Research. However, the shares of the group declined in the last few trading sessions amid a sluggish broad market trend.

The report made several allegations against it, including fraudulent transactions and share-price manipulation.

The group has dismissed the allegations as false, saying it complies with all laws and disclosure requirements.

Also Read: Gold price climbs to life-time high on bank crisis in US. Sell, hold or buy?


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