Starting on Thursday, the securities of Adani Enterprises will be covered under the short-term ASM framework on prestigious exchanges BSE and NSE.
High-low fluctuation, customer concentration, frequency of price band hits, close-to-close price variation, and price-earning ratio are among the criteria for shortlisting shares under ASM.
According to two separate circulars released by the National Stock Exchange (NSE) and the BSE on Wednesday, Adani Enterprises Ltd. has been selected for the short-term Additional Surveillance Measure (ASM) framework Stage-I, which will go into effect on May 25.
The applicable rate of margin under the short-term ASM, according to the exchanges, will be 50% or the current margin, whichever is higher, with a maximum rate of margin cap of 100% starting on May 26, 2023 for all open positions as of May 25, 2023 and new positions created on May 26, 2023.
Adani Enterprises was taken out of the short-term ASM framework in March by NSE and BSE.
Adani Enterprises shares fell 5.90% on Wednesday on the BSE. The stock increased 39.41% over the previous three days after a Supreme Court-appointed commission concluded that there was no evidence of stock price manipulation in the group firms.
