Committed to ensuring market integrity, says Sebi amid Adani crisis

Amid a raging controversy over a meltdown in Adani group stocks, regulator Sebi on Saturday said it is committed to ensuring the stock market’s integrity and all necessary surveillance measures are in place to address any excessive volatility in individual shares.

Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.

Officials confirmed that the statement has been issued in the wake of the Adani matter only.

Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.