NSE lifted additional surveillance on Adani Group stocks: Cong

New Delhi: The Congress claimed on Friday that the National Stock Exchange (NSE) has lifted additional surveillance on some Adani Group company stocks and asked why stock exchange regulator Securities and Exchange Board of India (SEBI) is standing by and allowing investors to take on added exposure to

such stocks. Congress general secretary, communications Jairam Ramesh posed questions on Twitter to Prime Minister Narendra Modi on the Adani issue as part of the opposition party’s “Hum Adanike Hain Kaun” series.

“Another day of adjournment and protest. The PM-linked Adani ‘Maha Mega Scam’ continues to be the subject of agitation by the Opposition and stonewalling by the Government. Here is HAHK (Hum Adanike Hain Kaun)-31. Chuppi Todiye Pradhan Mantriji,” Ramesh said in a tweet.

He claimed that even as global index providers such as MSCI, S&P Dow Jones and FTSE Russell reviewed the position of the Adani stocks in their equity indices, the NSE went the other way and included five Adani Group companies in no less than 14 indices beginning Monday, as pointed out in the HAHK series on February 20. This week, Ramesh claimed, the NSE announced that Adani Enterprises, Adani Power and Adani Wilmar would, from Friday, exit the additional surveillance mechanism framework that was put in place to protect investors from excessive risk.

“Surely the timing is not a coincidence? Why is SEBI standing by as the NSE chooses to protect the Adani Group’s interests rather than that of lakhs of small investors?” the Congress leader asked.