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 March 9, 2023, to keep a check on short-selling.
The three stocks include Adani Enterprises (NS: ADEL ), Adani Power (NS: ADAN ) and Adani Wilmar (NS: ADAW ). The development came after NSE removed the flagship Adani Group stock Adani Enterprises from the surveillance just the earlier day, after remaining under observation for nearly a month’s time.
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, to protect them from risky and speculative trades.
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 March 10, on all open positions as on Thursday, Mar 9, and new positions created from Friday.
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 Thursday besides Adani stocks include:
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Very simple you guys have shorts the script 🤣🤣🤣Like 1
All efforts by Captain Modi &Co Agencies to save the sinking debt laden TitanicLike 1
Why the stock exchange didn't took action when certain stocks went upto 4000? Well its a good move.stocks will stabilize better.....Like 2