NSE, BSE remove 3 Adani group stocks from short-term surveillance

The National Stock Exchange (NSE) and the BSE has announced that three Adani group companies -- Adani Enterprises, Adani Power and Adani Wilmar -- will move out of the short-term additional surveillance measure (ASM).

The stocks will be excluded from the short-term ASM framework with effect from March 17, according to separate circulars available on the exchanges.

The NSE and the BSE had put the three Adani group firms, including the flagship firm Adani Enterprises, under the ASM framework on March 8.

The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.

In addition, the NSE said that on these securities, "margins to be restored prior to ASM on all existing derivative contracts."

Tata Teleservices (Maharashtra) Ltd (TTML) is also another stock that was excluded from the framework.

"Applicable rate of margin shall be 50 per cent or existing margin ..