AMN
The National Stock Exchange NSE on Friday removed Adani Ports and Special Economic Zone and Ambuja Cements from the additional surveillance framework with effect from February 13.
NSE’s move comes days after the exchange had placed three Adani group stocks–Adani Enterprises, Adani Ports, and Ambuja Cements under additional surveillance measures (ASM) to curb excessive volatility post US short seller Hindenburg Research’s report, which battered the conglomerate’s listed stocks.
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.