Along with this, exchanges published names of 11 other securities that will be moved out of ASM.
CNBC Awaaz had reported earlier in the day that this development was in the offing.
Stock price manipulation is easier in this segment with lower compliance requirements and smaller market cap, and therefore this regulatory measure is being considered, according to CNBC Awaaz
Adani Power is shortlisted in short-term ASM framework Stage-I effective March 23, according to separate circulars available on the exchanges.
Additional surveillance measure (ASM) is an initiative to enhance market integrity and safeguard the interest of investors. By putting stocks under ASM, exchanges also serve as a warning to investors to keep a tab on unusual price movements.
Ajay Tyagi feels that a robust margin system is important for protecting the interests of retail investors.