Adani Power Stock To Be Put Under Additional Surveillance Again
Adani Power had come out of the short-term ASM framework on March 17.
The S&P BSE Sensex and NSE Nifty will include Adani Power Ltd.'s stock under the short-term additional surveillance measures framework again from Thursday, they said in respective circulars on Wednesday.
Securities are placed under the ASM framework based on parameters of high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.
Adani Power had come out of the short-term ASM framework on March 17, along with Adani Enterprises Ltd. and Adani Wilmar Ltd. stocks. These three stocks were added to the framework on March 9.
Currently, there is no Adani Group stock in the short-term ASM framework.
Adani Green Energy Ltd. and New Delhi Television Ltd. are listed under Stage I of the long-term ASM framework, while Adani Total Gas Ltd. and Adani Transmission Ltd. are under Stage II of the framework, according to data available on the exchanges.
Shares of Adani Power closed 2.03% higher at Rs 203.85 apiece on Wednesday as compared with a 0.24% rise in the Sensex.
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Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.