Description

NSE places Digikore Studios Limited under Long-Term ASM Stage I framework with 100% margin requirement effective November 7, 2025.

Summary

NSE has issued a surveillance circular placing Digikore Studios Limited (Symbol: DIGIKORE, ISIN: INE0QJ901011) under the Long-Term Additional Surveillance Measure (ASM) Stage I framework effective November 4, 2025. The security has satisfied the criteria for inclusion under Long-Term ASM, triggering a 100% margin requirement on all positions starting November 7, 2025.

Key Points

  • Digikore Studios Limited added to Long-Term ASM Framework Stage I effective November 4, 2025
  • 100% margin requirement applicable on all open positions and new positions from November 7, 2025
  • No securities moved to Stage IV (Trade-for-Trade segment) in this circular
  • No securities moved between ASM stages (I to II, II to III, I to IV, or II to IV)
  • ASM framework operates in conjunction with all other prevailing surveillance measures
  • Shortlisting under ASM is purely for market surveillance purposes and not an adverse action against the company

Regulatory Changes

This circular implements the Long-Term ASM framework as established in previous NSE circulars:

  • NSE/SURV/39265 (October 27, 2018)
  • NSE/SURV/45111 (July 22, 2020)
  • NSE/SURV/46557 (December 4, 2020)
  • NSE/SURV/48506 (June 4, 2021)
  • NSE/SURV/52090 (April 22, 2022)
  • NSE/SURV/63362 (August 9, 2024)
  • NSE/SURV/64066 (September 20, 2024)

The applicable surveillance action for Stage I securities involves mandatory 100% margin requirements.

Compliance Requirements

For Trading Members:

  • Collect and maintain 100% margin on all open positions in DIGIKORE as of November 6, 2025
  • Apply 100% margin on all new positions created in DIGIKORE from November 7, 2025 onwards
  • Ensure compliance with enhanced margin requirements in addition to other prevailing surveillance measures

For Investors:

  • Be aware of increased capital requirements for trading in DIGIKORE
  • Existing positions as of November 6, 2025 will be subject to 100% margin from November 7, 2025

Important Dates

  • November 3, 2025: Circular issued
  • November 4, 2025: Effective date for inclusion of DIGIKORE in Long-Term ASM Stage I
  • November 6, 2025: Last day before margin requirements take effect (positions as of this date subject to new margin)
  • November 7, 2025: 100% margin requirement becomes applicable on all positions

Impact Assessment

Market Impact:

  • Significantly reduced liquidity in DIGIKORE due to 100% margin requirement
  • Higher capital costs for maintaining positions in the affected security
  • Potential reduction in speculative trading activity
  • Increased barrier to entry for retail investors due to full upfront margin

Operational Impact:

  • Trading members must adjust risk management systems to enforce 100% margin
  • Margin collection processes need to be updated for affected security
  • Client communication required to inform about enhanced margin requirements
  • Position monitoring systems must track compliance with new margin levels

Surveillance Rationale: The placement under Long-Term ASM indicates that DIGIKORE satisfied specific surveillance criteria related to price volatility, volume patterns, or other market integrity concerns. The 100% margin serves as a risk mitigation measure to ensure market stability and protect investor interests.

Impact Justification

100% margin requirement significantly impacts trading in affected security, restricting liquidity and increasing capital requirements for market participants