NSE Adds 3 Adani Stocks Under ASM Framework on Feb 3: What Does it Mean?

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NSE Adds 3 Adani Stocks Under ASM Framework on Feb 3: What Does it Mean?
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic bourse National Stock Exchange has added three Adani Group stocks under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I framework, with effect from Feb 3, 2023, to keep a check on short-selling.

This means that intraday trading will need a 100% upfront margin and is expected to curb a lot of speculation and short selling. Under this list, traders are not allowed to avail intraday leverage and their 100% traded value gets blocked as margin, so as to protect them from risky and speculative trades.

NSE has put Adani Enterprises (NS: ADEL ), Adani Ports and Special Economic Zone (NS: APSE ) and Ambuja Cements (NS: ABUJ ) under the ASM framework, which holds those securities that come into the limelight on accounts of price fluctuation, volatility, and volume variance, among others.

According to the leading stock exchange, the applicable rate of margin shall be 50% or existing margin, subject to a maximum rate of margin capped at 100%, starting Feb 6, 2023, on all open positions as on Feb 3, 2023, and new positions created from Feb 6.

It has added 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.

Other securities under the ST-ASM framework Stage-I on Feb 3 besides the three Adani stocks include:

  • Heranba Industries (NS: HERN )
  • Monarch Networth Capital (NS: MONR ), and
  • PC Jeweller (NS: PCJE )

Read Also: Adani Ports Enters F&O Ban List on Feb 3, NSE Holds 2 Adani Stocks

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  • Sanjay Ahuja @Sanjay Ahuja
    This is not helping at all . Adani Ent is minus 35%% Adani Ports is minus 11% while Ambuja Cements is nearly 7% down . What a bear rally with no bottom in sight
    Like 3

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