Description
NSE shortlists 5 securities under ST-ASM Stage I effective March 02, 2026, with enhanced margin requirements of 50% (up to 100% cap) applicable from March 04, 2026. No securities added to Stage II.
Summary
NSE’s Surveillance department has shortlisted 5 securities under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I, effective March 02, 2026. Enhanced margin requirements will apply from March 04, 2026 on all open positions as of March 02, 2026 and all new positions thereafter. No securities were added to Stage II, and no securities are moving from Stage I to Stage II.
Key Points
- 5 securities shortlisted under ST-ASM Stage I effective March 02, 2026
- Stage I margin: 50% or existing margin (whichever is higher), capped at 100%
- Stage II margin: 100% or existing margin (whichever is higher), capped at 100% — no new additions this cycle
- Margin enhancement applies to open positions as on March 02, 2026 and new positions from March 04, 2026
- ASM framework operates in conjunction with all other prevailing surveillance measures
- Shortlisting is purely a surveillance action and should not be construed as adverse action against the company
Regulatory Changes
Securities added to ST-ASM Stage I are subject to increased margin obligations per the framework established under NSE circulars NSE/SURV/39265 (Oct 27, 2018), NSE/SURV/46557 (Dec 04, 2020), NSE/SURV/52144 (Apr 28, 2022), NSE/SURV/58558 (Sep 25, 2023), and NSE/SURV/64066 (Sep 20, 2024). Upon removal from the framework, the price band reverts to the pre-ASM level unless the scrip is part of another surveillance measure.
Compliance Requirements
- Members/Brokers: Ensure margin collection of at least 50% (or existing applicable margin, whichever is higher, max 100%) on ST-ASM Stage I securities for all open and new positions
- Traders/Investors: Be aware of increased margin requirements when trading in shortlisted securities
- Applicable to all open positions as on March 02, 2026 and new positions created from March 04, 2026
Important Dates
| Date | Event |
|---|---|
| February 27, 2026 | Circular issued |
| March 02, 2026 | Securities officially shortlisted under ST-ASM Stage I; reference date for open positions |
| March 04, 2026 | Enhanced margin requirements come into effect |
Impact Assessment
Affected Securities — ST-ASM Stage I:
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | RAMANEWS | Shree Rama Newsprint Limited | INE278B01020 |
| 2 | RGL | Renaissance Global Limited | INE722H01024 |
| 3 | RMDRIP | R M Drip and Sprinklers Systems Limited | INE219Y01026 |
| 4 | RTL | Rama Telecom Limited | INE14W901010 |
| 5 | WHITEFORCE | Happy Square Outsourcing Services Limited | INE0TLP01015 |
ST-ASM Stage II Additions: Nil Stage I to Stage II Movement: Nil
Traders and investors holding or planning to trade in any of the 5 listed securities will face higher upfront margin requirements, reducing leverage and potentially affecting liquidity. The increased margin burden may lead to position unwinding by margin-constrained participants, creating short-term price pressure on these scrips.
Impact Justification
Directly imposes elevated margin requirements (50%-100%) on 5 specific stocks affecting traders holding or initiating positions; effective within days of issuance.