Big relief to Adani Group, BSE and NSE exclude three companies from ASM framework

Adani Group Stocks: Three companies of Gautam Adani Group have got a big relief. BSE and NSC said on Friday that three Adani Group companies have been taken out of the ASM framework. This order will be effective from May 15. Out of this, two companies were removed from the second stage of investigation on March 24 and put in the first stage and now they have been excluded.

Which companies were out

Giving information on Friday, Bombay Stock Exchange and National Stock Exchange said that Adani Total Gas Limited, Adani Transmission Limited and Adani Green Energy Limited will be excluded from the ASM framework. It was ported to the ASM framework over a long period of time.

Adani Transmission to raise Rs 8,500 crore

Adani Green Energy was placed in the first stage long term ASM framework only last month and the remaining two stocks were placed in the first stage in March. Adani Transmission had said on Saturday that the board has given approval to raise Rs 8,500 crore from the market.

This company is also out of the purview of investigation

Information about withdrawal from ASM framework has been given in two separate circulars on the website of BSE and NSE. Apart from this, information has also been given to exclude PC Jewelers stock from ASM framework. Apart from this, MSCI said on Thursday that Adani Total Gas and Adani Transmission, two companies of Adani Group, are excluded from MSCI India Index, which is a setback for the group companies.

Why Adani Group’s shares were under scrutiny

The MSCI Global Standard Index is commonly used by global investment institutions to measure global equity portfolios. Let us tell you that in its report, American short selling firm Hindenburg had made allegations related to stock manipulation, fraud on Adani’s companies, after which these companies were kept under investigation.

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