Description

NSE announces changes to securities under Long-Term ASM Framework effective October 14, 2025, with ABM International Limited and Akshar Spintex Limited moved to Stage-I.

Summary

NSE has announced updates to the Additional Surveillance Measure (ASM) Framework effective October 14, 2025. Two securities have been shortlisted for inclusion in Long-Term ASM Framework Stage-I: ABM International Limited and Akshar Spintex Limited. ABM International Limited is being moved from Short-Term ASM (ST-ASM) to Long-Term ASM (LT-ASM) framework. No securities are being excluded from the ASM framework, and no securities are moving between stages or to Stage-IV (Trade for Trade basis).

Key Points

  • Two securities added to Long-Term ASM Framework Stage-I effective October 14, 2025
  • ABM International Limited (Symbol: ABMINTLLTD, ISIN: INE251C01025) moved from ST-ASM to LT-ASM Stage-I
  • Akshar Spintex Limited (Symbol: AKSHAR, ISIN: INE256Z01025) included in LT-ASM Stage-I
  • No securities shortlisted for Stage-IV (Trade for Trade basis)
  • No securities moving between stages (I to II, II to III, III to IV, or reverse movements)
  • No securities being excluded from ASM Framework
  • Consolidated ASM list includes multiple securities across different stages

Regulatory Changes

The circular implements routine surveillance measures under NSE’s Additional Surveillance Measure (ASM) Framework. Securities under ASM are subject to enhanced monitoring due to market concerns such as price volatility, low market capitalization, or other risk factors. The Long-Term ASM framework applies graduated stages (I through IV) with increasing restrictions, where Stage-IV involves shifting from rolling settlement to Trade for Trade (T2T) basis.

Compliance Requirements

  • Trading members must be aware of securities under ASM Framework
  • Enhanced disclosure requirements apply to ASM securities
  • Price bands and position limits may be applicable
  • Members should monitor client transactions in ASM securities
  • Stage-IV securities (when applicable) trade on T+3 basis with Trade for Trade settlement

Important Dates

  • Effective Date: October 14, 2025
  • Circular Issue Date: October 13, 2025 (implied)

Impact Assessment

Market Impact: Limited impact as only two securities are affected in this update. The movement of ABM International Limited from short-term to long-term ASM indicates persistent concerns requiring sustained surveillance.

Trading Impact: Securities in ASM Stage-I face moderate restrictions including:

  • Enhanced surveillance and monitoring
  • Potential price bands
  • Increased margin requirements
  • Additional disclosure obligations

Investor Impact: Investors holding or trading ABMINTLLTD and AKSHAR should be aware of enhanced surveillance status, which may result in reduced liquidity and higher transaction costs. The ASM classification serves as a caution flag for heightened risk.

Operational Impact: Brokers and trading members must update their systems to reflect the ASM status of these securities and ensure compliance with applicable restrictions and reporting requirements.

Impact Justification

Routine surveillance measure update affecting two securities, with ABM International moving from ST-ASM to LT-ASM Stage-I, indicating enhanced monitoring requirements