Trading curbs lifted on Adani Enterprises

The National Stock Exchange will remove Adani Enterprises Ltd from the short-term additional surveillance measures (ASM) framework. The company had been put under the ASM framework a month back, along with two other group stocks, following a massive sell-off post-Hindenburg research levelling allegations against the group.

During the period of high volatility, the exchange takes such measures as placing stocks under the ASM framework to protect investors from any speculative trading too. However, with reduced volatility, the stock moving out of the ASM framework would mean less stringent rules like the removal of the 100% margin requirement for intraday traders.

The group stocks had remained under pressure and volatile since the Hindenburg report raised concerns around the group on 24 January. The group, however, got a respite with the US-based investment firm GQG partners investing Rs. 15,446 crore in four Adani stocks. The same has helped reduce major concerns of the investors, leading to the stock rebounding almost 23.5%.