By laksh5382 
Two Adani Group stocks on the Bombay Stock Exchange (BSE) have been placed under the first phase of long-term additional surveillance measures (ASM) following the recent US indictment of Chairman Gautam Adani and others on alleged bribery charges.
Adani was reportedly charged in New York, US over his role in a billion-dollar bribery and fraud scheme. The chairman of a port power group and seven other defendants agreed to pay more than $250 million in bribes to Indian officials to get solar contracts, according to US authorities.
ASM is an initiative of the Securities and Exchange Board of India (SEBI) and exchanges in which securities are transferred in short-term or long-term framework to protect the interests of investors. Adani Group’s stock has been placed under the ASM framework due to high volatility following bribery allegations.
In short-term ASM, there are two phases. Stocks in each phase are kept in force for a minimum of 5/15 trading sessions and are eligible for review from the 6th/16th trading day. The securities are further monitored and moved to trade-to-trade (T2T segment), and 100 percent of the traded value will be blocked as margin, meaning no intraday leverage will be given.
The parameters for shortlisting securities under the ASM framework include high-low variation, client concentration, number of price band hits, close-to-close price variation and price earnings ratio.
In addition, SEBI and the exchanges introduce various advanced pre-emptive monitoring measures such as periodic reduction in price bands, periodic call auctions and transfer of securities to trading segment.
Adani and his nephew Sagar are accused of orchestrating the scheme and misleading investors during a $750 million bond offering that raised about $175 million from US investors. In the indictment unsealed by federal prosecutors in New York, Adani, 62, was charged with securities fraud, conspiracy to commit securities fraud and wire fraud.
Charges include bribery of Indian government officials, securities and wire fraud, conspiracy to violate the US Foreign Corrupt Practices Act and obstruction of justice, false statements made in annual reports and false statements made to the US government in connection with its investigation. Are included. Group.