Adani Green, Gujarat Ambuja Exports fall after being placed under ASM

Shares of Adani Green Energy, VIP Industries, Gujarat Ambuja Exports and Morepen Laboratories have fallen by up to 5% on the BSE after these stocks were placed under additional surveillance measures (ASM) by the market regulator Securities and Exchange Board of India (SEBI) with effect from today.

The 5% price band shall be applicable w.e.f. August 07, 2018. and 100% margins shall be applicable w.e.f. August 13, 2018 on all open positions as on August 10, 2018 and new positions created from August 13, 2018 onwards, the BSE said in notice dated August 6, 2018.

Adani Green Energy (Rs 70.60), Gujarat Ambuja Exports (Rs 208) and Morepen Laboratories (Rs 33.60) were locked in the lower circuit of 5% on the BSE. VIP Industries was trading 3% higher at Rs 542, after hitting a low of Rs 500 in intra-day trade. On comparison, the S&P BSE Sensex was trading flat at 37,682 at 12:43 PM.

All these stocks had strong run-up surging by up to 150% in past one month and more-than-doubled in one year.

Adani Green Energy had rallied 147% in past one month from Rs 30 to Rs 74 on Monday. VIP Industries and Morepen Laboratories surged 26% each, as compared to 5.7% rise in the Sensex.

The shortlisted securities shall be further monitored on a pre-determined objective criteria and would be moved into Trade for Trade segment once the criteria get satisfied. Market participants may note that ASM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time and as may be applicable.

The shortlisting of securities under ASM is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company.

  Price in Rs % returns    
Company 06/08/2018 1 mth 1 year LTP % chg
Adani Green 74.30 147.25 152.72* 70.60 -4.98
Morepen Labs. 35.35 25.80 106.73 33.60 -4.95
Gujarat Ambuja Exports 219.25 10.00 98.50 208.30 -4.99
VIP Inds. 524.65 26.36 172.76 542.45 3.40

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