Description

NSE implements ST-ASM Stage I for 3 securities with 50% margin requirement effective August 4, 2025.

Summary

NSE has implemented Short-Term Additional Surveillance Measure (ST-ASM) Stage I for three securities: Emkay Tools Limited (ETL), ORTIN GLOBAL LIMITED (ORTINGLOBE), and Pondy Oxides & Chemicals Limited (POCL). The measure requires a minimum 50% margin or existing margin (whichever is higher) capped at 100%, effective August 4, 2025.

Key Points

  • Three securities included in ST-ASM Stage I framework
  • Margin requirement: 50% or existing margin, whichever is higher
  • Maximum margin capped at 100%
  • Applies to open positions as of August 1, 2025 and new positions from August 4, 2025
  • Seven securities excluded from ASM framework
  • No securities in ST-ASM Stage II currently

Regulatory Changes

  • Implementation of enhanced margin requirements for specified securities
  • Continuation of existing ASM framework with regular review and updates
  • ASM measures work in conjunction with other surveillance measures

Compliance Requirements

  • Market participants must comply with increased margin requirements for affected securities
  • Monitoring of positions in securities under ST-ASM
  • Adherence to all prevailing surveillance measures imposed by exchanges

Important Dates

  • August 1, 2025: Reference date for existing open positions
  • August 4, 2025: Effective date for ST-ASM Stage I implementation and margin requirements

Impact Assessment

Securities Under ST-ASM Stage I:

  1. Emkay Tools Limited (ETL) - INE0PXC01024
  2. ORTIN GLOBAL LIMITED (ORTINGLOBE) - INE749B01020
  3. Pondy Oxides & Chemicals Limited (POCL) - INE063E01053

Securities Excluded from ASM:

  • Agarwal Float Glass India Limited (AGARWALFT)
  • Barak Valley Cements Limited (BVCL)
  • Garuda Construction and Engineering Limited (GARUDA) - moved to LTASM
  • Hi-Green Carbon Limited (HIGREEN)
  • Hind Rectifiers Limited (HIRECT) - moved to LTASM
  • Vertoz Limited (VERTOZ)
  • Wise Travel India Limited (WTICAB)

The measure is implemented purely for market surveillance purposes and should not be construed as adverse action against the companies. Market participants should expect increased margin requirements and potential impact on trading volumes for the affected securities.

Impact Justification

Affects specific securities with increased margin requirements but limited scope