Stock exchanges have since May 25 placed Adani Enterprises within the short-term extra surveillance framework.

Following the stock exchanges’ placement of Adani Enterprises under the short-term extra surveillance framework beginning on May 25, the company’s shares fell by more than 2% on Thursday. The stock was down 2.80% to $2,407.45 at the time this text was written on the BSE.

According to two separate circulars released by BSE and NSE on Wednesday, “applicable rate of margin shall be 50% or existing margin, whichever is higher, with effect from May 26, 2023 on all open positions as of May 25, 2023 and new positions created from May 26, 2023.”

Adani Enterprises was taken out of the short-term ASM framework in March by NSE and BSE. In intraday trade on Wednesday, Adani Enterprises’ stock fell by about 8% to a low of 2,425.35.

The stock increased 39.41% during the previous three days after a Supreme Court-appointed tribunal determined that there was no proof of stock price manipulation in the group companies, as claimed by Hindenburg Research. 

Following their significant increase in the past few sessions, the majority of Adani equities saw profit taking on Wednesday. However, the main company of the Group, Adani Enterprises, saw significant advances in five trading days for the Adani equities. The market worth of the conglomerate is currently close to 10 lakh crore. Regarding the listed stocks supported by billionaire Gautam Adani, experts have differing opinions.

GQG Partners, who in March purchased Adani shares for Rs. 15,000 crore, recently increased their position in the group by 10%.