Gautam Adani: Monday is a day of relief for Adani Transmission

The trouble of shares of Gautam Adani group companies is coming to an end. Shares of Gautam Adani’s three companies Adani Transmission, Adani Green and Adani Total Gas are being taken out from Additional Surveillance Major.

The news of relief is going to be received on Monday for three companies of Gautam Adani Group. All the three companies of Gautam Adani Group will move out of the ASM framework from May 15. Mumbai Stock Exchange and National Stock Exchange, two big exchanges of the country, have given this information. ASM or Additional Surveillance Measure is an initiative taken by capital market regulator Security Exchange Board of India and stock market exchanges for the benefit of investors. This increases the integrity in the stock market.

Shares of Adani Transmission, Adani Green Energy and Adani Total Gas will move out of the ASM category on Monday. This includes the price of shares, volume variation and fluctuations in share prices etc.

Weakness has been registered in the shares of Adani Transmission and Adani Total Gas on Friday. The reason for this is the exclusion of these two stocks from the MSCI Global Standard Index. Shares of Gautam Adani Group’s Adani Transmission fell by ₹28 to trade at ₹889 while Adani Total Gas fell by ₹35 to trade at ₹819 on Friday.

Due to the removal of Adani Transmission and Adani Total Gas, a company of Gautam Adani group, from the MSCI Global Standard Index, heavy selling can be registered in their shares. It is feared that $ 200 million can be withdrawn from Adani Transmission and $ 186 million from Adani Total Gas. 18-18 million shares of both Adani Group companies can be excluded from MSCI Global Standard Index.

Recently, Adani Transmission has discussed the plan to raise funds by holding a board meeting. Meanwhile, the shares of Adani Green Energy registered a weakness of ₹ 17 and are trading at ₹ 896.

Apart from the shares of Gautam Adani’s Adani Group companies, shares of Om Infra, PC Jewellers, Upsurge Seeds, Network People and Cadsys India Limited are also being pulled out from the ASM framework.

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