Shares of IndusInd Bank have been placed under Additional Surveillance Measure (ASM), according to a notice issued by the National Stock Exchange (NSE) on March 13.
Why Was IndusInd Bank Placed Under ASM?
The ASM framework is used by stock exchanges to closely monitor stocks experiencing unusual price movements or volatility. The decision aims to protect investors by ensuring stricter regulations on trading.
Under Stage 1 ASM, investors must maintain a 100% margin requirement for trading the stock. Additionally, the stock remains under increased regulatory scrutiny to prevent excessive speculation or potential market manipulation.
IndusInd Bank’s Recent Stock Performance
IndusInd Bank’s shares have seen a sharp decline over the past week, making it one of the biggest losers on the Nifty index. The stock has dropped by more than 30% in just a few days, leading to concerns among investors and triggering its inclusion in the ASM framework.
There is also news that RBI may appoint a public sector banker as the next chief of IndusInd Bank – the same that happened in case of YES Bank.
