Tuesday, May 21, 2024

Adani Total Gas, Adani Transmission to move to long term ASM Stage-1 framework

Leading bourses NSE and BSE on Friday said Adani Total Gas and Adani Transmission will move to the first stage of the long term additional surveillance measure framework from March 27.

On March 10, both exchanges put the two companies under the second stage of the long-term Additional Surveillance Measure (ASM) framework.

In two separate circulars, the bourses said these securities will continue in the framework but will be moved from respective lower stage ASM from March 27.

Indiabulls Enterprises Ltd is another stock that will move from Stage II to Stage I of the long term ASM framework.

Meanwhile, stocks of seven Adani group companies out of the ten-listed entities ended the day in the negative territory on Friday amid a weak trend in the broader market.

At the close of the session, seven group firms were traded in the red and three with the gains.

The group stocks have taken a beating on the exchanges since the report by US-based short-seller Hindenburg Research came in January this year.

The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

This story has been published from a wire agency feed without modifications to the text.

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