NSE Removes Adani Enterprises From Short-Term Surveillance

The National Stock Exchange will move Adani Enterprises Ltd. out of the short-term additional surveillance measure from March 8.

The exchange had put the stock under short-term ASM along with Adani Ports & SEZ Ltd. and Ambuja Cements Ltd. on Feb. 6, amid extreme volatility following the Hindenburg Research report.

Adani Ports and Ambuja Cements were removed from short-term additional surveillance measure framework on Feb. 13.

Hindenburg had alleged stock manipulation in Adani Group stocks. The conglomerate, while dismissing the claims, had termed the allegations "malicious" and aimed at damaging Adani Enterprises Ltd.'s follow-on public offer, which was later withdrawn.

Shares of Adani Group companies extended gains for the fourth consecutive trading session on Monday, after its promoters raised Rs 15,446 crore via stake sale.

Adani Enterprises gained 5.51% to Rs 1,982.85 per share and Adani Ports & SEZ rose 0.90% to Rs 690.50 per share at closing; while the benchmark Nifty 50 gained 0.67%.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.