Adani Group has lost around Rs 9 lakh crore m-cap in the last seven trading sessions since January 24
Market regulator Securities and Exchange Board of India (SEBI) on Saturday said for orderly and efficient functioning of the market, all surveillance measures are in place to address excessive volatility in specific stocks. In a statement, the market regulator said that it is committed to ensuring market integrity and its structural strength amid the rout of Adani Group stocks. On February 1, it was reported that SEBI is examining the recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company.
SEBI in its statement said in the past week, unusual price movement was observed in stocks of a business conglomerate. It assured that market integrity and its structural strength will be taken care of. The market regulator stated: “As part of its mandate, SEBI seeks to maintain orderly and efficient functioning of the market and has put in place a set of well-defined, publicly available surveillance measures (including the ASM framework) to address excessive volatility in specific stocks. This mechanism gets automatically triggered under certain conditions of price volatility in any stock.”
This is SEBI’s statement is its first reaction after the recent rout of Adani Group stocks. It further added: “In all specific entity related matters, if any information comes to SEBI’snotice, then,as per extant policies, the same is examined and after due examination,appropriate action is taken.”