BSE, NSE Put NDTV Under Short-Term ASM Framework
NDTV is shortlisted in the short-term additional surveillance measure framework Stage-I effective from May 30.
Leading bourses BSE and NSE will put the securities of NDTV, an Adani Group company, under the short-term ASM framework from Tuesday.
The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.
New Delhi Television Ltd. is shortlisted in the short-term additional surveillance measure framework Stage-I effective from May 30, the National Stock Exchange and BSE said in two separate circulars on Monday.
The move came after both bourses had put the flagship firm of the conglomerate Adani Enterprises under the short-term ASM framework on May 25.
Last week, BSE and NSE removed NDTV from the long-term ASM framework.
On Monday, NDTV stock jumped 5 per cent on BSE and NSE.
U.S. short-seller Hindenburg Research in its Jan. 24 report levelled allegations of fraud and stock manipulation against the Adani group. However, a Supreme Court-appointed panel found no evidence of stock price manipulation in the group companies.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.