NSE puts 3 Adani stocks under ASM to curb short selling

The National Stock Exchange (NSE) on Thursday placed Adani Enterprises, Adani Ports and Ambuja Cements under additional surveillance mechanism  (ASM) that will require 100% margin to trade in their shares.

The move by the NSE comes after a rout in the shares of the billionaire Gautam Adani's group entities in the aftermath of a scathing report by a U.S. short seller.

The aDANI  Group has shed USD  108 billion in market capitalisaiton since Hindenburg Research accused it of stock manipulation and accounting fraud.

As many as 3 Adani group enties, including Adani Enterprises, have come under short-term additional surveillance measure (ASM) framework of the BSE and NSE, as per latest data available with the exchanges on Thursday.
Adani Ports and Special Economic Zone and Ambuja Cements are the other two businesses listed by the exchanges in addition to Adani Enterprises.

The US markets have again jolted Adani Enterprises' stock. Shares of Adani Enterprises could soon be dropped from the Dow Jones Sustainability Indices, with removal taking place before the market opens on Tuesday, February 7, 2023. The US markets announced the information along with their index.

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