Description

NSE implements ST-ASM Stage I on three securities with 50% margin requirements effective August 8, 2025, and excludes three securities from ASM framework.

Summary

NSE has implemented Short-Term Additional Surveillance Measure (ST-ASM) Stage I on three securities effective August 8, 2025, requiring 50% margin or existing margin (whichever is higher) capped at 100%. Additionally, three securities are being excluded from the ASM framework.

Key Points

  • Three securities included in ST-ASM Stage I: Essen Speciality Films Limited (ESFL), Jainam Ferro Alloys (I) Limited (JAINAM), and Zim Laboratories Limited (ZIMLAB)
  • Margin requirement increased to 50% or existing margin, whichever is higher, subject to maximum 100%
  • Three securities excluded from ASM framework: Brightcom Group Limited (BCG), Jaiprakash Power Ventures Limited (JPPOWER), and Prime Focus Limited (PFOCUS)
  • No securities moved between ST-ASM stages
  • ASM framework operates in conjunction with other surveillance measures

Regulatory Changes

Implementation of ST-ASM Stage I with enhanced margin requirements for identified securities based on market surveillance criteria.

Compliance Requirements

  • Market participants must ensure compliance with 50% minimum margin requirements for ST-ASM Stage I securities
  • Margin requirements apply to all open positions as on August 7, 2025, and new positions from August 8, 2025
  • Members must adhere to all prevailing surveillance measures

Important Dates

  • August 7, 2025: Reference date for existing open positions
  • August 8, 2025: Effective date for ST-ASM Stage I implementation and exclusions from ASM framework

Impact Assessment

Medium impact on affected securities and their investors due to increased margin requirements. The measure is purely surveillance-based and should not be construed as adverse action against companies. Limited market-wide impact as only specific securities are affected.

Impact Justification

Affects specific securities with increased margin requirements but limited to surveillance measures