Adani Transmission, Adani Total Gas, Adani Green to exit ASM framework on Monday

Three Adani group companies have been removed from the ASM framework with effect from May 15, leading exchanges BSE and NSE said on Friday.

ASM or Additional Surveillance measure is an initiative by the Securities Exchange Board of India (SEBI) and exchanges to safeguard the interests of the investors and enhance market integrity. Adani Transmission, Adani Green Energy and Adani Total Gas stocks are moved to the ASM category based on a few criteria including price, volume variation and volatility.

Both Adani Transmission and Adani total Gas tanked on Friday riding on their ouster from the MSCI Global Standard Index. The Adani Transmission stock ended at Rs 889 on Friday, down by Rs 28.25 or 3.08% while Adani Total Gas shares settled at Rs 819.30 on the NSE down by Rs 35.75 or 4.18% from the previous closing price.

The exit of Adani Transmission and Adani Total Gas from the MSCI Global Standard Index is expected to trigger outflows of $201 million in case of Adani Transmission and $186 million in case of Adani Total Gas according to a Nuvama Alternative & Quantitative Research report.

Meanwhile, 18 million shares each of both the Adani Group companies will be offloaded from the index, the report said. The stocks carry weights of 0.34 and 0.31, respectively, according to the report.


Adani Transmission will hold a board meeting today to consider a fund raise.


Meanwhile, Adani Green Energy shares ended with declines of Rs 17 or 1.87% at Rs 896.45 on Friday.

Apart from the Adani Group stocks, other counters which have also come out from the ASM framework include Om Infra Limited, PC Jeweller Limited, Upsurge Seeds of Agriculture Limited, Network People Services Technologies Limited, Cadsys (India) Limited.


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