Description

NSE applies ST-ASM Stage I to ANB Metal Cast Limited and Bharat Seats Limited with 50% margin requirement effective September 5, 2025.

Summary

NSE has applied Short-Term Additional Surveillance Measure (ST-ASM) Stage I to two securities effective September 5, 2025. The measure increases margin requirements to 50% or existing margin (whichever is higher) with a maximum cap of 100% for both existing and new positions.

Key Points

  • Two securities included in ST-ASM Stage I: ANB Metal Cast Limited (AMCL) and Bharat Seats Limited (BHARATSE)
  • Margin requirement increased to 50% or existing margin, whichever is higher
  • Maximum margin capped at 100%
  • Four securities excluded from ASM framework including Apollo Micro Systems and Aditya Infotech
  • ASM framework works in conjunction with other surveillance measures

Regulatory Changes

  • Implementation of ST-ASM Stage I for specified securities
  • Enhanced margin requirements for affected stocks
  • Exclusion of four securities from ASM framework with specific transitions to LTASM and ESM frameworks

Compliance Requirements

  • Market participants must comply with increased margin requirements
  • Applicable to all open positions as on September 4, 2025
  • New positions from September 5, 2025 subject to enhanced margins
  • Members should refer to NSE FAQs for detailed ASM information

Important Dates

  • September 4, 2025: Cut-off date for existing positions
  • September 5, 2025: Effective date for ST-ASM Stage I implementation and enhanced margin requirements

Impact Assessment

  • Limited impact affecting only two securities in ST-ASM Stage I
  • Increased trading costs for affected stocks due to higher margin requirements
  • Four securities benefit from ASM framework exclusion
  • Market surveillance action not construed as adverse action against companies

Impact Justification

Affects specific securities with increased margin requirements but limited to two stocks