Market regulator SEBI said it is committed to ensuring market integrity and adequate structural strength so that India's financial market continues to run efficiently, transparently, and uninterrupted.
In its statement on Saturday, the SEBI said the Indian financial market, as represented by Sensex and Nifty, has demonstrated ongoing stability and is continuing to function in a transparent, fair and efficient manner.
After governance allegations raised by international short-seller Hindenburg Research against it, the Adani Group companies have seen a sharp fall in stock prices over the last few weeks. The Adani Group has called the report a "malicious combination of selective misinformation and stale, baseless, and discredited allegations that have been tested and rejected by India's highest courts".
"As part of its mandate, SEBI seeks to maintain orderly and efficient functioning of the market and has put in place a set of well defined, publicly available surveillance measures (including the ASM framework) to address excessive volatility in specific stocks," the SEBI statement said.
"This mechanism gets automatically triggered under certain conditions of price volatility in any stock."
In addition, SEBI said if any information comes to its attention, then, according to its current policies, it will review the information and take the appropriate action after due examination.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.