National Stock Exchange (NSE) on Friday announced Adani Ports & SEZ and Ambuja Cements from the so-called short term ASM framework.
The move will reduce the margin requirement for traders while dealing in these stocks. These stocks were moved to the ASM list following the sharp correction seen triggered by the Hindenburg Research report on January 24.
Meanwhile. shares of most of the Adani group companies settled lower on Friday, with flagship company Adani Enterprises registering a 4 per cent slump, after index provider MSCI decision to cut the free-float weight of some companies of the conglomerate in their indices.
Shares of eight of the 10 group firms closed in the red, while two companies settled in the green territory on Friday.
“The Marketcap of Adani group companies fell again by 3.3 per cent on February 10, following the MSCI decision to cut the free float weight of some companies of the conglomerate in their indices.
“The market cap of the group is now down by 51 per cent as compared to that on January 24,” Deepak Jasani, Head of Retail Research at HDFC Securities said.
(With inputs from PTI)
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