Ever since the Hindenburg fiasco triggered a stock market bloodbath for Adani Group firms and spooked investors, the companies have been in and out of the Additional Surveillance Mechanism. Stocks placed under this framework are monitored, after they display volatility and fluctuations in volume.
After Adani Enterprises was once again placed under additional surveillance, another group firm NDTV has joined the flagship company as part of the ASM framework.
Hit by loss of ad revenue
The media organisation, which was acquired by Adani barely a month before the Hindenburg report came out, reported a 98 per cent dip in profits for the January-March quarter of FY23.
The firm has been bogged down by declining demand for advertising, which has hurt its key revenue stream.
Although Adani Group stocks being added to the ASM framework repeatedly, raises eyebrows among investors, the National Stock Exchange clarified that it isn't an adverse action against the firm.
The changing face of NDTV
Following the takeover late last year, several big names including the founders of NDTV have left the channel.
Although Gautam Adani had announced plans to turn NDTV into a global media network, his conglomerate was hit by the Hindenburg report shortly after that.
