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Adani Total Gas, Adani Transmission to Move to Long-Term ASM Stage-1 Framework from Monday

On March 10, the exchanges placed the companies in the second phase of the long-term Additional Supervisory Measures (ASM) framework.

Adani Total Gas and Adani Transmission will enter the first phase of a long-term framework of additional supervisory measures from March 27, major exchanges NSE and BSE said on Friday.

On March 10, the exchanges placed the companies in the second phase of the long-term Additional Supervisory Measures (ASM) framework.

In two separate circulars, the exchange said the securities would remain in the framework but would be removed from their respective lower-stage ASMs from March 27.

Indiabulls Enterprises Ltd is another stock that has moved into Phase 1 from Phase 2 of the long-term ASM framework.

Meanwhile, shares of seven of the 10 listed entities in the Adani group closed lower on Friday amid a weaker broader market.

Seven group companies ended the trading day in the red, while three made a profit.

The group’s shares have been hit hard on exchanges since the release of a report by US short-seller Hindenburg Research in January.

The report made a barrage of allegations, including fraudulent trading and stock price manipulation. The group dismissed the allegations as lies, saying it complied with all legal and disclosure requirements.

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