Stock Exchanges BSE, NSE lower circuit limits on Adani group stocks
Stock exchanges BSE and NSE on Monday revised the circuit limits for three Adani group companies — Adani Total Gas, Adani Transmission, and Adani Green Energy — from 20 per cent to 10 per cent. The move comes after the massive sell-off triggered lower circuit in these scrips in the last two trading sessions. following the allegations by Hindenburg Research.
In these two sessions, Adani Green lost a market capital of Rs 1.6 trillion while Adani Total Gas Mcap eroded by Rs 1.45 trillion. Adani Transmission’s market cap also slipped by nearly Rs 1 trillion.
Through circuit filters, stock exchanges limit the daily fluctuations in a stock to stop unduly fall or rise in prices. Once the circuit limit is reached either on upside or downside, the stock price cannot move further in that direction.
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