Description
NSE places 5 securities under Long-Term Additional Surveillance Measure (ASM) Stage I effective February 24, 2026, with 100% margin requirement applicable from February 26, 2026.
Summary
NSE has issued a circular (Ref No: NSE/SURV/72942, Circular Ref. No: 139/2026) placing 5 securities under the Long-Term Additional Surveillance Measure (Long Term ASM) Stage I, effective February 24, 2026. A 100% margin requirement applies to all open and new positions from February 26, 2026. No securities were added to Stage II, III, or IV under this circular.
Key Points
- 5 securities shortlisted for inclusion in Long-Term ASM Framework Stage I effective February 24, 2026
- 100% margin applicable on all open positions as on February 25, 2026 and new positions from February 26, 2026
- No securities shortlisted for Stage IV (Trade-for-Trade segment shift) under this circular
- No movements between ASM stages (Stage I to II, or Stage II to III) under this circular
- AAREYDRUGS satisfies criteria at BSE (cross-exchange surveillance coordination)
- ASM framework operates in conjunction with all other prevailing surveillance measures
- Shortlisting is purely for market surveillance and not an adverse action against the company
Regulatory Changes
This circular references and builds upon earlier ASM circulars: NSE/SURV/39265 (Oct 27, 2018), NSE/SURV/45111 (Jul 22, 2020), NSE/SURV/46557 (Dec 04, 2020), NSE/SURV/48506 (Jun 04, 2021), NSE/SURV/52090 (Apr 22, 2022), NSE/SURV/63362 (Aug 09, 2024), and NSE/SURV/64066 (Sep 20, 2024). Securities qualifying under Criteria VII (Stage IV) would be shifted from Rolling Settlement (Series: EQ) to Trade-for-Trade segment (Series: BE), though no securities qualify for Stage IV in this circular.
Compliance Requirements
- NSE members must ensure 100% margin is collected on all open positions in the listed securities as on February 25, 2026
- From February 26, 2026, all new positions in these securities must carry 100% margin
- Members should communicate these restrictions to their clients trading in the affected securities
- Members may refer to FAQs at https://www.nseindia.com/regulations/additional-surveillance-measure for further guidance
- Queries can be directed to surveillance@nse.co.in
Important Dates
- February 23, 2026: Circular issued
- February 24, 2026: Securities included in Long-Term ASM Stage I (effective date)
- February 25, 2026: Last date for existing open positions before 100% margin kicks in
- February 26, 2026: 100% margin requirement effective on all open and new positions
Impact Assessment
Affected Securities (Long-Term ASM Stage I):
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | ANONDITA | Anondita Medicare Limited | INE0VTV01012 |
| 2 | DHTL | Docmode Health Technologies Limited | INE0OGG01015 |
| 3 | DUGLOBAL | DUDIGITAL GLOBAL LIMITED | INE0HPK01020 |
| 4 | USK | Udayshivakumar Infra Limited | INE0N0Y01013 |
| 5 | AAREYDRUGS | Aarey Drugs & Pharmaceuticals Limited* | INE198H01019 |
*AAREYDRUGS satisfies criteria at BSE.
The 100% margin requirement will significantly increase the cost of trading in these securities, likely reducing liquidity and trading volumes. Traders holding positions in these scrips as of February 25, 2026 must ensure sufficient margin is available to avoid forced square-offs. No Stage IV inclusions means none of the securities are being moved to the more restrictive Trade-for-Trade segment at this time.
Impact Justification
Direct trading restrictions with 100% margin requirement imposed on 5 securities, significantly affecting trading costs and liquidity for those stocks.