Description

NSE announces changes to securities under ASM framework effective August 20, 2025, with JSLL moving from Stage-I to Stage-II.

Summary

NSE has announced changes to securities under the Additional Surveillance Measure (ASM) framework effective August 20, 2025. The primary change involves Jeena Sikho Lifecare Limited (JSLL) moving from Long-Term ASM Framework Stage-I to Stage-II. Most other categories show no securities being added, moved, or excluded from the ASM framework.

Key Points

  • Only one security (JSLL) is being moved between ASM stages
  • No new securities are being added to Stage-I or Stage-IV of the ASM framework
  • No securities are being excluded from the ASM framework
  • The consolidated ASM list shows multiple securities across different stages, with Stage-I having the most listings
  • Securities in Stage-IV under Criteria VII are shifted to Trade for Trade (Series: BE) on T+3 basis

Regulatory Changes

  • Movement of JSLL from ASM Stage-I to Stage-II increases surveillance measures on the security
  • Securities reaching Stage-IV under specific criteria face trading restrictions (Trade for Trade settlement)

Compliance Requirements

  • Market participants must comply with enhanced surveillance measures for securities in higher ASM stages
  • Securities in Stage-IV under Criteria VII must be traded on a Trade for Trade basis
  • All changes take effect from August 20, 2025

Important Dates

  • Effective Date: August 20, 2025 - All ASM framework changes become applicable
  • T+3 Settlement: Securities moved to Stage-IV under Criteria VII shift to Trade for Trade settlement three days after circular issuance

Impact Assessment

  • Trading Impact: JSLL faces increased surveillance measures which may affect liquidity and trading patterns
  • Market Operations: Minimal overall impact as only one security is being moved between stages
  • Investor Awareness: Enhanced monitoring requirements for JSLL may lead to increased scrutiny from market participants
  • Settlement Impact: Securities in Stage-IV continue to face Trade for Trade settlement restrictions

Impact Justification

Routine ASM framework adjustments with limited stock movement affecting trading parameters