Description

NSE updates ASM framework with new securities additions, stage movements, and consolidated list of monitored stocks effective September 9, 2025.

Summary

NSE has updated the Additional Surveillance Measure (ASM) framework effective September 9, 2025, with new securities being added to Long-Term ASM Framework Stage-I and existing securities moving between surveillance stages. The circular includes a consolidated list of all securities currently under ASM monitoring.

Key Points

  • S.A.L. Steel Limited (SALSTEEL) added to Long-Term ASM Framework Stage-I
  • Stallion India Fluorochemicals Limited (STALLION) moved from Stage-I to Stage-II
  • No securities moved to Stage-IV or were excluded from ASM framework
  • Securities in Stage-IV are shifted from Rolling Settlement (EQ) to Trade for Trade (BE) on T+3 basis
  • Consolidated ASM list includes multiple securities across different stages

Regulatory Changes

The Long-Term ASM Framework continues to operate with four stages of surveillance measures. Securities meeting specific criteria are moved between stages based on their trading patterns and market behavior. Stage-IV securities face the most restrictive trading conditions with Trade for Trade settlement.

Compliance Requirements

  • Market participants must be aware of securities under ASM and their respective stages
  • Trading members should note the settlement mechanism changes for Stage-IV securities
  • Investors should consider the surveillance measures when trading in listed securities

Important Dates

  • September 9, 2025: Effective date for all ASM framework updates
  • T+3 basis: Timeline for shifting Stage-IV securities to Trade for Trade settlement

Impact Assessment

The surveillance measures aim to protect investor interests by monitoring securities with unusual price movements or trading patterns. The addition of new securities and stage movements indicates ongoing market monitoring. Trading restrictions on Stage-IV securities may impact liquidity and trading volumes for affected stocks.

Impact Justification

Regular surveillance measure updates affecting specific securities with stage movements and new additions to monitoring framework