Additional Surveillance Measure: The ASM Framework is a security initiative by SEBI and exchanges to protect traders from risky stocks and manipulations. It is a process by which exchanges keep stocks in the ASM Framework whenever they suspect market speculation and manipulation and want to monitor it.
Recently, for the second time, on May 29th , India’s two stock exchanges, NSE and BSE, announced in two circulars that they are again keeping New Delhi Television Ltd. (NDTV) securities in the short-term ASM framework of Phase 1 as from May 30th. This news came out exactly one week after the announcement of its removal from the ASM Framework.
In detail, As NDTV is an Adani Group company, after the takeover last year and the Hindenburg report came out in January, Adani Group stocks witnessed a huge surge. Due to this effect, NDTV went into the long-term ASM framework in March. After 3 months of surveillance, it was announced by the exchanges on May 19 that NDTV was removed from the ASM Framework with effect from May 22. But in the trading week of May 22nd, the share price of NDTV was traded in the same manner every day in that week. By the end of that week, it again moved into the surveillance from May 30.
We have to wait to see what will happen to the NDTV stocks. It is the first time for NDTV to get into surveillance within a week again. NDTV had always been the most credible news channel in the media before the takeover.
