Auto-grade steel manufacturer Bhushan Steel has been shortlisted in ASM in relation to the Insolvency Resolution Process as part of the Insolvency and Bankruptcy Code
Luggage giant VIP Industries, renewable energy business company Adani Green Energy, flour milling company Gujarat Ambuja Exports and Pharma enterprise Morepen Labs have been included in the Additional Surveillance Mechanism (ASM) framework from Tuesday, according to a BSE circular.
Further, auto-grade steel manufacturer Bhushan Steel has been shortlisted in ASM in relation to the Insolvency Resolution Process as part of the Insolvency and Bankruptcy Code, the circular added.
SEBI has introduced ASM on stocks with surveillance concerns such as price variation, volatility, etc. However, the shortlisting of securities under this framework isn’t interpreted as an adverse action against any company.
Source: indiainfoline
