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Adani Group National Stock Exchange: Another big news related to Adani Group is coming out. The National Stock Exchange (NSE) on Thursday decided to put three Adani Group companies in the Additional Surveillance Margin Framework (ASM). These 3 companies of Adani Group include Adani Enterprises, Adani Port and Ambuja Cement. Know what is the reason behind this.
what is asm
Putting in ASM means that 100% upfront margin will be required for intraday trading as well, this will put some curb on short selling. The biggest reason behind this step is to reduce the volatility in Adani Group’s shares. Now the National Stock Exchange will also increase its surveillance on these shares. This new rule will come into effect from Friday, February 3, 2023.
What did NSE say
Regarding the ASM framework, NSE has informed on its official website that, in order to monitor price, volume variation, stock fluctuations, Additional Surveillance Measures (ASM) have been inserted. The National Stock Exchange also said that the shortlisting of securities under ASM is for monitoring, and should not be treated as action against the entity concerned.
Adani Group was harmed
Recently, after the report of Hindenburg Research, there has been a rapid decline in the shares of Adani Group in the last few days. The stock exchange has taken this decision after this. It is to be known that the Adani group has suffered a loss of more than $100 billion due to this.
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