Description

NSE places seven securities under ST-ASM Stage I with 50% margin requirement effective September 12, 2025, and excludes four securities from ASM framework.

Summary

NSE has implemented Short-Term Additional Surveillance Measure (ST-ASM) on multiple securities effective September 12, 2025. Six securities are newly included in ST-ASM Stage I, one security moves from Stage I to Stage II, and four securities are excluded from the ASM framework entirely.

Key Points

  • 6 securities newly included in ST-ASM Stage I: JTEKTINDIA, LASA, PFOCUS, PURVFLEXI, STUDIOLSD, VERTEXPLUS
  • FLEXITUFF moves from ST-ASM Stage I to Stage II
  • 50% minimum margin requirement or existing margin (whichever is higher), capped at 100%
  • Measures apply to existing open positions as of September 11, 2025 and new positions from September 12, 2025
  • 4 securities excluded from ASM framework: JINDALPHOT, JPOLYINVST, PVP, RPPINFRA
  • PVP moved from ST-ASM to Enhanced Surveillance Measure (ESM) framework

Regulatory Changes

Implementation of Short-Term Additional Surveillance Measure with enhanced margin requirements for identified securities based on market surveillance criteria.

Compliance Requirements

  • Market participants must maintain minimum 50% margin or existing margin rate (whichever is higher) for affected securities
  • Maximum margin rate capped at 100%
  • Compliance required for all open positions as on September 11, 2025
  • New position requirements effective from September 12, 2025

Important Dates

  • September 11, 2025: Last day before ST-ASM implementation
  • September 12, 2025: ST-ASM measures become effective for all listed securities

Impact Assessment

Medium impact on affected securities with increased margin requirements potentially reducing trading volumes and liquidity. The surveillance measures are implemented purely for market monitoring purposes and should not be construed as adverse action against the companies. ASM framework operates in conjunction with other existing surveillance measures.

Impact Justification

Affects multiple securities with increased margin requirements but limited to specific stocks under surveillance