BSE, NSE put NDTV under short-term ASM framework

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The leading exchanges will place BSE and NSE Stock from NDTVan Adani Group company, within the short-term ASM framework from Tuesday.

Parameters for shortlisting a security under ASM include high and low variance, customer focus, number of times price range is hit, close-to-close price variance, and price-earnings ratio.

New Delhi Television Ltd (NDTV) has been shortlisted under the Short-Term Additional Monitoring Measures (ASM) framework – Phase One from May 30, the National Stock Exchange (NSE) and BSE said in separate publications on Monday.

The move came after the two exchanges placed Adani Enterprises Group’s flagship company under the short-term ASM framework on May 25.

Last week, BSE and NSE removed NDTV from their long-term ASM framework.

On Monday, NDTV stock jumped 5 percent on BSE and NSE.

Hindenburg Research, a US short-selling firm, in its January 24 report made allegations of fraud and stock manipulation against the Adani Group. However, a committee appointed by the Supreme Court found no evidence of share price manipulation in the group companies.