BackAdani Wilmar, other 19 stocks to be excluded from NSE's ASM framework from 26 Sept. Check list
Adani Wilmar, Sadbhav Engineering, Dhampur Sugar Mills, and Siti Networks are among some of the stocks to exit the framework. ASM on securities with surveillance concerns is based on objective parameters like price, volume variation, volatility, etc.
PremiumA total of 20 securities are to be excluded from stock exchange NSE's Additional Surveillance Measure (ASM) framework with effect from September 26, 2022. Adani Wilmar, Sadbhav Engineering, Dhampur Sugar Mills, and Siti Networks are among some of the stocks to exit the framework. ASM on securities with surveillance concerns is based on objective parameters like price, volume variation, volatility, etc.
Adani Wilmar is the FMCG food company of Adani Group to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar.
As per the circular, these 20 stocks are -- Adani Wilmar, Sadbhav Engineering, Dhampur Sugar Mills, South West Pinnacle Exploration, Siti Networks, Asian Hotels (East), and Future Consumer.
Among other stocks are -- Brand Concepts, Ansal Properties & Infrastructure, Servotech Power Systems, Maha Rashtra Apex Corporation, Sambhaav Media, Shradha Infraprojects, Karma Energy, Arrow Greentech, LGB Forge, MITCON Consultancy & Engineering Services, Cantabil Retail India, Solara Active Pharma Sciences, and Godha Cabcon & Insulation, according to the circular cited by Dalal Street Investment Journal.
The shortlisting of these securities for placing in ASM is based upon parameters like -- high low variation, client concentration, close-to-close price variation, volume variation, delivery percentage, number of unique PANs, and PE.
To enhance market integrity and safeguard the interest of investors, market regulator Sebi and exchanges have been introducing various enhanced pre-emptive surveillance measures such as reduction in price band, periodic call auction, and transfer of securities to the Trade for Trade segment from time to time.
On Friday, NSE finished at 17,327.35 lower by 302.45 points or 1.725. Last week, NSE tumbled by nearly 2%.
On NSE, Adani Wilmar shares settled at ₹812.20 apiece down by 0.5%, while Sadbhav Engineering plunged by 2.05% to close at ₹14.35 apiece. Meanwhile, Dhampur Sugar Mills stock dipped by 2.5% to end at ₹224.10 apiece.
NSE is the world’s largest derivatives exchange by trading volume (contracts) as per the statistics maintained by Futures Industry Association (FIA) for calendar year 2021. NSE is ranked 4th in the world in the cash equities by number of trades as per the statistics maintained by the World Federation of Exchanges (WFE) for calendar year 2021.
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