Description

NSE places 7 securities under ST-ASM Stage I effective March 13, 2026, with 50% margin requirement applicable from March 16, 2026. No securities are added to Stage II.

Summary

NSE has issued Circular No. 188/2026 (Ref: NSE/SURV/73255) placing 7 securities under Short-Term Additional Surveillance Measure (ST-ASM) Stage I effective March 13, 2026. Applicable margin requirements increase to 50% (or existing margin, whichever is higher, capped at 100%) from March 16, 2026. No securities have been added to Stage II, and no movements between stages have been recorded.

Key Points

  • 7 securities shortlisted for ST-ASM Stage I effective March 13, 2026
  • Applicable margin rate: 50% or existing margin (whichever is higher), capped at 100%
  • Margin applies to all open positions as on March 13, 2026 and new positions from March 16, 2026
  • Stage II list: Nil; Stage I to Stage II movement: Nil; Stage II to Stage I movement: Nil
  • ASM framework operates in conjunction with all other prevailing surveillance measures
  • Shortlisting is purely for market surveillance and should not be construed as adverse action against the company

Regulatory Changes

This circular is issued further to previous ASM 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). No new regulatory framework changes are introduced; existing ST-ASM provisions are being applied to newly qualifying securities.

Compliance Requirements

  • NSE members must apply a minimum 50% margin (or existing margin, whichever is higher, max 100%) on the 7 listed securities from March 16, 2026
  • Members must apply the margin to all open positions as on March 13, 2026
  • Members must apply the margin to all new positions created from March 16, 2026
  • For queries, contact: surveillance@nse.co.in

Important Dates

  • March 13, 2026: Securities included under ST-ASM Stage I; reference date for open positions
  • March 16, 2026: Revised margin requirements become effective

Impact Assessment

Traders and investors holding or planning to take positions in the 7 affected securities will face higher margin requirements, potentially reducing leverage and liquidity for these stocks. The securities affected are:

  1. CREATIVEYE - Creative Eye Limited (INE230B01021)
  2. FACT - Fertilizers and Chemicals Travancore Limited (INE188A01015)
  3. MAHAPEXLTD - Maha Rashtra Apex Corporation Limited (INE843B01013)
  4. MAYASHEEL - Mayasheel Ventures Limited (INE0ZTO01018)
  5. TECHLABS - Trident Techlabs Limited (INE0QD201012)
  6. UMESLTD - Usha Martin Education & Solutions Limited (INE240C01028)
  7. VENUSREM - Venus Remedies Limited (INE411B01019)

The measure is a standard surveillance tool to deter excessive speculation and does not reflect any fundamental adverse development at the listed companies.

Impact Justification

Affects 7 specific securities with increased margin requirements under ST-ASM Stage I; no Stage II additions. Impacts traders holding or taking positions in these securities but is a routine surveillance action.