NSE, BSE put Adani Green Energy under second stage of longterm ASM framework from Mar 28

Electric power transmission pylon miniatures and Adani Green Energy logo are seen in this illustration.
| Photo Credit: Reuters

Leading bourses NSE and BSE have said that Adani Green Energy will be put under the second stage of the long-term additional surveillance measure (ASM) framework from March 28.

In two separate circulars, the bourses said Adani Green Energy shall continue in the ASM framework but will be moved to the respective higher stage from March 28.

The move also comes close on the heels of the two exchanges moving two group firms Adani Total Gas and Adani Transmission from the second stage of the long-term ASM framework to Stage-I on Friday.

On March 17, both exchanges put Adani Green Energy and NDTV under the first stage of the long-term ASM framework.

Meanwhile, all the 10 listed firms of the Adani group on March 27 ended the day in the negative territory, with Adani Power, Adani Transmission, Adani Wilmar and Adani Total Gas each falling nearly 5 per cent.

Many of the group firms hit their lower circuit limits during the day.

The Adani group stocks have taken a beating on the exchanges since a report by U.S.-based short-seller Hindenburg Research was published in January this year.

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

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

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