Leading bourses BSE and NSE on Friday said that three Adani Group companies—Adani Total Gas Ltd., Adani Transmission Ltd. and Adani Green Energy Ltd.—will move out of the ASM framework from May 15.
On March 24, both the bourses had moved Adani Total Gas and Adani Transmission from second to the first stage of the long-term Additional Surveillance Measure framework.
Last month, the exchanges had also moved Adani Green Energy to first stage of long-term ASM framework.
The stocks will be excluded from ASM framework effective May 15, according to two separate circulars available on the BSE and NSE websites.
PC Jeweller is also another stock that was excluded from the ASM framework.
On Thursday, MSCI announced that two Adani Group companies—Adani Total Gas and Adani Transmission—will move out of the MSCI India Index with effect from May 31.
MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.
U.S. short-seller Hindenburg Research in its Jan. 24 report levelled allegations of fraud and stock manipulation against the Adani Group. However, the conglomerate has repeatedly denied all allegations.
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