Description
NSE introduces Short-Term ASM framework affecting 4 securities in Stage-I effective December 22, 2025, with enhanced surveillance measures for securities witnessing unusual price movements.
Summary
NSE has announced the applicability of Short-Term Additional Surveillance Measure (ST-ASM) framework effective December 22, 2025. Four securities have been shortlisted for ST-ASM Stage-I: Amiable Logistics (India) Limited, DJ Mediaprint & Logistics Limited, TCI Finance Limited, and Walchandnagar Industries Limited. No securities are placed in Stage-II, and no securities are being moved between stages or excluded from the ASM framework. The consolidated ASM list now contains 31 securities under surveillance.
Key Points
- 4 securities newly placed in Short-Term ASM Framework Stage-I effective December 22, 2025
- No securities placed in Stage-II of ST-ASM framework
- No securities moving between stages or being excluded from ASM
- Total of 31 securities now under ASM framework (30 in Stage-I, 1 in Stage-II)
- ST-ASM applies to securities witnessing unusual price movements requiring short-term surveillance
Regulatory Changes
The Short-Term ASM framework implements enhanced surveillance for securities showing unusual price volatility. Stage-I surveillance measures typically include:
- Additional disclosure requirements
- Price band restrictions
- Enhanced monitoring of trading activity
- Possible restrictions on intraday trading
Stage-II measures would involve more stringent surveillance actions if securities are escalated.
Compliance Requirements
- Trading members must comply with enhanced surveillance measures for affected securities
- Investors trading in these securities should be aware of applicable restrictions
- Market participants must adhere to any price band limitations and trading restrictions
- Brokers should inform clients about securities under ST-ASM framework
Important Dates
- Effective Date: December 22, 2025 - ST-ASM measures become applicable for listed securities
Impact Assessment
Securities Affected (ST-ASM Stage-I):
- AMIABLE - Amiable Logistics (India) Limited (INE0MTP01013)
- DJML - DJ Mediaprint & Logistics Limited (INE0B1K01014)
- TCIFINANCE - TCI Finance Limited (INE911B01018)
- WALCHANNAG - Walchandnagar Industries Limited (INE711A01022)
Market Impact:
- Enhanced surveillance may reduce speculative trading in affected securities
- Stricter price bands may limit intraday volatility
- Liquidity may be impacted due to additional restrictions
- Investor confidence in orderly market operations may improve
Trading Impact:
- Modified trading conditions for 4 securities from December 22, 2025
- Potential reduction in trading volumes due to surveillance measures
- Additional due diligence required for market participants
The consolidated ASM list of 31 securities includes both short-term and long-term surveillance measures, with Giriraj Civil Developers Limited being the only security in Stage-II. The ST-ASM framework is designed to be temporary and responsive to short-term price anomalies, with securities potentially being removed once normal trading patterns resume.
Impact Justification
Affects 4 securities with enhanced surveillance measures; impacts trading conditions but limited scope compared to broader market actions