NSE & BSE Remove Adani Enterprises From Short-Term ASM Framework

NSE and BSE removed Adani Enterprises from the short-term additional surveillance measure (ASM) framework on the 6th of March 2023.

NSE and BSE put three Adani Group companies, including the flagship Adani Enterprises, under the short-term additional surveillance measure framework last month.

Special Economic Zone (APSEZ)  and Ambuja Cements were removed from the ASM framework on the 13th of February 2023.

Also read: China Backs Sri Lanka Debt Plan, Paving Way For $2.9 Billion Worth Of IMF Loan

According to the circular available with the exchanges, the move comes into effect from the 8th of March 2023.

The exchanges said, “Applicable rate of margin shall be 50 percent or existing margin whichever is higher, subject to a maximum rate of margin capped at 100 percent, with effect from 9th of March 2023 on all open positions as on 8th of Marc 2023 and new positions created from 9th of March 2023”.

Adani group stocks have recovered significantly in the last few trading sessions.

Adani Group firms stocks settled with gains on Monday and Adani Enterprises rose more than 5 percent amid positive momentum in the broader equity market.

Share markets are closed on the 7th of March 2023 on account of Holi and will open at 9:15 AM on the 08th of March 2023.

Also read: Adani Portfolio Companies Complete INR 15,446 Cr Secondary Equity Transaction With GQG Partners