Shares of Tata Investment Corporation were trading lower on Wednesday morning, going down over 3.5% to hit an intraday low of ₹4,128.05.
What Happened: The slump today comes as the stock was put under the ASM (Additional Surveillance Measure ) framework by the BSE. The ASM framework is implemented by stock exchanges as a precautionary measure to address unusual and extreme volatility observed in the trading of a particular stock.
When a company’s stock is placed under the ASM framework, it means that additional surveillance and restrictions are imposed on trading activities related to that stock. The objective of implementing ASM is to safeguard the interests of investors and maintain market integrity.
Shares of the Tata Group company have been on a strong bull run in the past few months. In just the last five trading sessions, the stock has gone up close to 30%. In the past six years, the stock has surged close to 100%.
Price Action: Tata Investments’ share price was down 1.36% to trade at ₹4,225.85 in the early hours of trading on Wednesday.
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