By Malvika Gurung
Investing.com — The domestic bourses National Stock Exchange and Bombay Stock Exchange have added Adani Enterprises (NS:) under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I framework, with effect from May 25, 2023.
Shares of Adani Enterprises fell for the second consecutive session on Thursday, declining 3.6% to Rs 2,386.65 apiece during the intraday trade.
The flagship company of Adani Group, Adani Enterprises has been put under the short-term ASM by NSE and BSE, which means that traders will not be allowed to avail intraday leverage and their 100% traded value will get blocked as margin to protect them from risky and speculative trades.
The intraday trading will need a 100% upfront margin and is expected to curb a lot of speculation and short selling.
According to the stock exchanges, the applicable rate of margin shall be 50% or existing margin, subject to a maximum rate of margin capped at 100%, starting May 26, on all open positions as on Thursday, May 25, and new positions created from Friday.
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 Enterprises include:
- De Nora India (NS:)
- Refex Industries (NS:)
- Indo Tech Transformers (NS:)
- Andhra Cements
