Adani Enterprises, Adani Power and Adani Wilmar Included in NSE's Short-term Additional Surveillance
Moneylife Digital Team 09 March 2023
National Stock Exchange (NSE) has included three companies from the Adani group in its short-term additional surveillance mechanism framework. These include Adani group flagship Adani Enterprises Ltd, Adani Power Ltd and Adani Wilmar Ltd.
In a circular, NSE says, " per the provisions of short-term additional surveillance measure (ST-ASM)...applicable rate of margin call shall be 50% or existing margin, whichever is higher, subject to maximum rate of margin capped at 100% from 10 March 2023 on all open positions as on 9 March 2023 and new positions created from 10 March 2023."
"Market participants may note that ASM framework will be in conjunction with all other prevailing surveillance measures being imposed by the Exchange from time to time. Further it may be noted that the shortlisting of securities under ASM is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company or entity," NSE added.
NSE has added nine scrips in its latest action under ST-ASM framework. Besides three Adani group companies, there are: Kiri Industries Ltd, Tata Teleservices (Maharashtra) Ltd, Uniinfo Telecom Services Ltd, Stampede Capital Ltd, DB Realty Ltd, and Asian Energy Services Ltd.
DB Reality is moved from monthly pledge to ST-ASM, NSE says.
At 10.56am Thursday, Adani Enterprises was trading 5% down at Rs1,936.30, while Adani Power and Adani Wilmar were up 4.72% and 3.26% at Rs195.40 and Rs476.45, respectively, on NSE, while the 50-share Nifty50 was marginally down at 17,692 points.
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