NSE Removes Adani Ports, Ambuja Cements From Additional Surveillance
Adani Enterprises continues under the additional surveillance measure.
The National Stock Exchange will move Adani Ports and Special Economic Zone Ltd. and Ambuja Cements Ltd. out of short-term additional surveillance from Feb. 13.
Adani Enterprises Ltd. continues under the additional surveillance measure or ASM framework, according to an update on the NSE website.
The exchange had placed the three stocks under the ASM framework starting Feb. 6 amid extreme volatility following the Hindenburg Research report.
Stocks under ASM are monitored for price and volume variation and volatility, among others. The parameters include high-low variation, client concentration, close to close price variation, market capitalisation, volume variation, delivery percentage, number of unique PANs and price equity ratio.
Under the framework, applicable margin is 50% or existing margin, whichever is higher, subject to maximum rate of margin capped at 100%.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.