By Malvika Gurung
Investing.com -- The domestic bourses National Stock Exchange and Bombay Stock Exchange have added two more Adani Group stocks under the second stage of the Long-Term Additional Surveillance Measures (ASM) framework (Stage-II), with effect from March 13, 2023.
The two stock exchanges made the aforementioned announcement closely after NSE added Adani Enterprises (NS: ADEL ), Adani Power (NS: ADAN ) and Adani Wilmar (NS: ADAW ) under the Short-Term ASM Stage I framework starting March 9, 2023, only a day after removing Adani Enterprises from the surveillance.
The major triggers for shortlisting securities under the ASM framework include client concentration, high-low variation, close-to-close price variation, number of price band hits and PE ratio.
The two Adani stocks satisfied the criteria for inclusion under Long Term-ASM, and the applicable rate of margin shall be 100% applicable from March 15 on all open positions as on March 14, 2023, and new positions created from March 15 onwards.
Additionally, the lower price band shall be applicable starting from March 13, 2023, said the exchanges.
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, they added.
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