Shares of Adani Green Energy Ltd rose 5% on Monday after a block trade in which about 13.70 lakh shares changed hands, CNBC television reported. However, the details of the buyer and seller are not yet known.

Adani Green shares were trading at Rs 897.80 on the BSE at 10 am, up 5% from their previous close, while the benchmark Sensex edged up 0.23% to 59,968.61.

About 13.70 lakh shares (0.10% stake) worth Rs 123.09 crore changed hands at an average of Rs 899 per share, CNBC-TV18 reported.

Adani Green Energy’s shares have been transferred to the first phase of a long-term framework of additional supervisory measures. It follows the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) placement of the shares in the second phase of the same framework on March 28.

Adani Green Energy will remain in the Additional Supervisory Measures (ASM) framework but will be moved to a lower stage from April 10, according to two circulars published by the exchange. Security selection criteria under the ASM framework typically involve high-risk – low price changes, customer concentration, frequency of price band touches, close-to-close price changes, and price-to-earnings ratios.

According to Reuters, several leading Japanese and European banks have reaffirmed their confidence in Adani Group despite its recent challenges.

A critical report by US short-seller Hindenburg Research on January 24 accused firms led by billionaire Gautam Adani of manipulating stocks and improperly using offshore tax havens. As a result, the group’s seven listed stocks lost about $120 billion in market value, but the group has denied all allegations against them.