Description

NSE announces changes to securities under the Additional Surveillance Measure framework, with Axita Cotton Limited entering Long-Term ASM Stage-I and Globesecure Technologies Limited being excluded from the framework effective December 09, 2025.

Summary

NSE has updated the Additional Surveillance Measure (ASM) framework effective December 09, 2025. One security, Axita Cotton Limited (AXITA), has been newly shortlisted under Long-Term ASM Framework Stage-I. Globesecure Technologies Limited (GSTL) is being excluded from the ASM framework as it has been moved to the Enhanced Surveillance Measure (ESM) framework. No securities are moving between different ASM stages during this update.

Key Points

  • Axita Cotton Limited (AXITA, ISIN: INE02EZ01022) enters Long-Term ASM Framework Stage-I
  • Globesecure Technologies Limited (GSTL, ISIN: INE00WS01056) excluded from ASM framework due to shift to ESM framework
  • No securities shortlisted for Long-Term ASM Framework Stage-IV
  • No inter-stage movements across any ASM stages (Stage-I to Stage-II, Stage-II to Stage-III, etc.)
  • Changes take effect from December 09, 2025

Regulatory Changes

The circular implements updates to the ASM framework, a surveillance mechanism designed to alert investors about securities exhibiting abnormal price movements or other concerning trading patterns. Securities under Stage-IV of the Long-Term ASM Framework are shifted from Rolling Settlement (Series: EQ) to Trade for Trade (Series: BE) on a T+3 basis as per Criteria VII.

Compliance Requirements

  • Trading members must note the inclusion of AXITA in Long-Term ASM Stage-I and apply appropriate trading restrictions
  • Investors should be aware of enhanced surveillance applicable to AXITA
  • GSTL’s movement from ASM to ESM framework requires adherence to ESM-specific compliance requirements
  • Market participants must adjust their systems to reflect updated ASM classifications effective December 09, 2025

Important Dates

  • Effective Date: December 09, 2025 - ASM framework changes come into effect
  • T+3 Implementation: For any securities moved to Stage-IV under Criteria VII, shift to Trade for Trade occurs three trading days after circular issuance

Impact Assessment

Market Impact: Limited, as only two securities are affected in this update. The addition of AXITA to ASM Stage-I will subject it to enhanced surveillance and may impact investor sentiment and liquidity.

Trading Impact: AXITA will face Stage-I surveillance measures which typically include increased monitoring of price movements and volumes. GSTL’s shift to ESM framework indicates more serious concerns requiring stricter surveillance measures.

Investor Impact: Investors holding or trading AXITA should exercise caution and be aware of the heightened surveillance. Those holding GSTL should note the transition to a more stringent ESM framework which may impose additional trading restrictions.

Impact Justification

Affects two securities with AXITA entering surveillance framework and GSTL being excluded; impacts trading conditions for these stocks but limited market-wide impact