Stock exchanges in a circular said Patanjali Foods will move out from additional surveillance measure (ASM) framework from November 1 onwards. Along with this, exchanges published names of 11 other securities that will be moved out of ASM.
Other securities that have been moved out of ASM as per Insolvency and Bankruptcy Code (IBC) are Lakshmi Precision Screws, Goenka Diamond and Jewels, Reliance Capital, Future Enterprises, Future Supply Chain Solutions, Digjam, Sumeet Industries, Sintex Plastics Technology, Eastern Silk Industries, Metalyst Forging and Educomp Solutions, according to a circular by National Stock Exchange (NSE).
ASM is an initiative by the market regulator that puts listed securities under monitoring. The framework is employed on objective parameters such as price or volume variation, volatility etc. The aim of the framework is to safeguard investor interests.
Earlier in the day, shares of Patanjali Foods closed up 4.88 percent at Rs 1,375.75. The stock has delivered 16.22 percent returns so far in the current calendar year.
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