Description

NSE announces securities entering and exiting the Short-Term Additional Surveillance Measure framework effective December 26, 2025, with 7 securities added to Stage I and 5 securities being excluded from ASM.

Summary

NSE has updated the list of securities under the Short-Term Additional Surveillance Measure (ST-ASM) framework effective December 26, 2025. Seven securities have been shortlisted for ST-ASM Stage I due to heightened surveillance concerns, while five securities are being excluded from the ASM framework entirely. Currently, no securities are moving between Stage I and Stage II, and no new securities are entering Stage II. The consolidated ASM list now contains 27 securities across both stages.

Key Points

  • 7 securities added to Short-Term ASM Framework Stage I effective December 26, 2025
  • 0 securities added to Stage II
  • 0 securities moving from Stage I to Stage II
  • 0 securities moving from Stage II to Stage I
  • 5 securities being excluded from ASM framework entirely
  • Total of 27 securities currently under ASM surveillance (consolidated list)
  • ST-ASM framework applies enhanced surveillance measures to securities exhibiting unusual price movements or volumes

Securities Added to ST-ASM Stage I

Effective December 26, 2025:

  1. ARUNAYA - Arunaya Organics Limited (INE0TTG01017)
  2. DCXINDIA - DCX Systems Limited (INE0KL801015)
  3. JFLLIFE - Jfl Life Sciences Limited (INE0LA901015)
  4. MANAKSTEEL - Manaksia Steels Limited (INE824Q01011)
  5. QUADFUTURE - Quadrant Future Tek Limited (INE0LRY01011)
  6. REXPRO - Rexpro Enterprises Limited (INE113601012)
  7. TPHQ - Teamo Productions HQ Limited (INE065J01024)

Securities Excluded from ASM Framework

Effective December 26, 2025:

  1. CEWATER - Concord Enviro Systems Limited (INE037Z01029)
  2. DIGJAMLMTD - Digjam Limited (INE731U01028)
  3. MAHAPEXLTD - Maha Rashtra Apex Corporation Limited (INE843B01013)
  4. SHAKTIPUMP - Shakti Pumps (India) Limited (INE908D01010)
  5. TARIL - Transformers And Rectifiers (India) Limited (INE763I01026)

Regulatory Changes

The ST-ASM framework is designed to alert investors about securities that have witnessed unusual price rise/movement and protect investor interests. Securities under ST-ASM are subject to:

  • Enhanced surveillance monitoring
  • Potential additional margin requirements
  • Possible trading restrictions including price bands
  • Reduced position limits for traders
  • Mandatory disclosure requirements

Stage I represents the initial level of surveillance, while Stage II involves more stringent measures for securities that continue to exhibit concerning patterns.

Compliance Requirements

  • Trading Members: Must ensure compliance with additional margin requirements and position limits for securities under ST-ASM
  • Investors: Should exercise increased caution when trading in ST-ASM securities and be aware of enhanced surveillance measures
  • Brokers: Must inform clients about the ASM status of securities and associated risks
  • Market Participants: Should monitor the consolidated ASM list regularly for updates

Important Dates

  • Effective Date: December 26, 2025 - All changes to ST-ASM framework become applicable
  • Circular Date: December 24, 2025

Impact Assessment

High Impact on Affected Securities: The 7 securities entering ST-ASM Stage I will experience increased trading costs due to higher margins, reduced liquidity from cautious investor sentiment, and potential volatility restrictions. Conversely, the 5 securities being excluded from ASM will benefit from normalized trading conditions and potentially improved liquidity.

Market Implications: ST-ASM placement serves as a warning signal to investors about securities with unusual price movements, helping maintain market integrity. The framework’s dynamic nature (securities entering and exiting based on behavior) demonstrates NSE’s proactive surveillance approach.

Investor Considerations: Traders and investors holding positions in the newly added ST-ASM securities should review their risk exposure and be prepared for potential margin calls and reduced leverage availability.

Impact Justification

ST-ASM placement significantly impacts trading by imposing stricter surveillance measures including possible price limits, higher margins, and reduced position limits on 7 securities while providing relief to 5 securities being excluded