Description
NSE removes Jainik Power Cables Limited and Pondy Oxides & Chemicals Limited from Additional Surveillance Measure framework with Jainik moving to Enhanced Surveillance Measure.
Summary
NSE has issued a circular regarding the Short-Term Additional Surveillance Measure (ST-ASM) framework. No securities have been newly included in ST-ASM stages, but two securities are being excluded from the ASM framework effective August 11, 2025.
Key Points
- No securities shortlisted for ST-ASM Stage I or Stage II
- No securities moving between ST-ASM stages
- Two securities excluded from ASM framework: Jainik Power Cables Limited and Pondy Oxides & Chemicals Limited
- Jainik Power Cables moved from ST-ASM to Enhanced Surveillance Measure (ESM) framework
- ST-ASM margin requirements remain at 50% or existing margin (whichever higher), capped at 100%
Regulatory Changes
No new regulatory changes introduced. This circular provides routine updates to the existing ST-ASM framework with exclusions only.
Compliance Requirements
- Market participants must note that ASM framework operates in conjunction with all other surveillance measures
- Price bands of excluded securities will be reinstated to pre-ASM levels unless subject to other surveillance measures
- Members should monitor for any future surveillance measure applications
Important Dates
- August 11, 2025: Effective date for exclusion of two securities from ASM framework
- August 12, 2025: Margin requirements applicable for any ST-ASM securities (though none currently listed)
Impact Assessment
Market Impact: Minimal - only two securities affected through exclusions, providing relief to those stocks. Operational Impact: Low - routine surveillance update with no new compliance burdens. Trading Impact: Positive for excluded securities as they regain normal price bands and margin requirements.
Impact Justification
Only two securities excluded from framework, no new inclusions, routine surveillance update