Description

NSE circular updating the list of securities under Short-Term Additional Surveillance Measure framework, effective January 16, 2026.

Summary

NSE has issued an update to the Short-Term Additional Surveillance Measure (ST-ASM) framework, effective January 16, 2026. The circular adds Sundrex Oil Company Limited (SOCL) to Stage-I of the ST-ASM framework and removes five securities (CSB Bank, Esprit Stones, Graphisads, Manaksia Aluminium Company, and Robust Hotels) from the ASM framework entirely. The consolidated ASM list now contains 23 securities - 22 in Stage-I and 1 in Stage-II.

Key Points

  • One new security added to Short-Term ASM Framework Stage-I: Sundrex Oil Company Limited (SOCL, ISIN: INE0CTB01014)
  • No securities added to Stage-II
  • No securities moved between Stage-I and Stage-II
  • Five securities excluded from ASM framework entirely: CSBBANK, ESPRIT, GRAPHISAD, MANAKALUCO, and RHL
  • Total of 22 securities now in Stage-I of ASM framework
  • One security (VIVIMEDLAB) remains in Stage-II
  • Measures effective from January 16, 2026
  • Circular references previous ASM framework circulars from October 2018, December 2020, April 2022, September 2023, and September 2024

Regulatory Changes

This circular updates the list of securities subject to the Short-Term Additional Surveillance Measure framework. The ST-ASM framework is designed to alert investors about securities exhibiting abnormal price movements or unusual trading patterns. Securities under this framework face additional surveillance and may have specific trading restrictions or price bands applied.

Compliance Requirements

  • Trading members must comply with the surveillance measures applicable to securities listed in the ASM framework
  • Enhanced monitoring and reporting requirements apply to trades in these securities
  • Members should ensure their risk management systems account for securities under ASM
  • Investors should be aware of the additional surveillance status when trading these securities

Important Dates

  • Circular Issue Date: January 14, 2026
  • Effective Date: January 16, 2026 - New ST-ASM list becomes applicable

Impact Assessment

Market Impact: The addition of SOCL to Stage-I will subject it to enhanced surveillance measures, potentially affecting its trading volumes and liquidity. The removal of five securities (CSBBANK, ESPRIT, GRAPHISAD, MANAKALUCO, RHL) from ASM indicates improved compliance or reduced volatility concerns for these stocks.

Investor Impact: Investors holding or trading in the 23 securities under ASM framework should be aware of applicable trading restrictions, potential price bands, and enhanced disclosure requirements. The exclusion of five securities may improve trading flexibility for those stocks.

Operational Impact: Trading members must update their surveillance systems and risk management frameworks to reflect the updated ASM list effective January 16, 2026.

Impact Justification

Affects trading conditions for 23 securities under ASM framework. One new security added to Stage-I, five securities excluded from ASM. Impacts trading members and investors in these securities.