Description

NSE places KCK Industries Limited under Long-Term ASM Stage I framework effective March 18, 2026, with 100% margin requirement applicable from March 20, 2026.

Summary

NSE has placed KCK Industries Limited (Symbol: KCK, ISIN: INE0J1E01027) under the Long-Term Additional Surveillance Measure (ASM) Stage I framework effective March 18, 2026. A 100% margin requirement will apply from March 20, 2026 on all open positions as of March 19, 2026 and all new positions created thereafter.

Key Points

  • KCK Industries Limited (KCK) included in Long-Term ASM Stage I w.e.f. March 18, 2026
  • 100% margin applicable from March 20, 2026 on open and new positions
  • No securities moved to Stage II, III, or IV in this circular
  • 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 references and operates under the ASM framework established through prior circulars: NSE/SURV/39265, NSE/SURV/45111, NSE/SURV/46557, NSE/SURV/48506, NSE/SURV/52090, NSE/SURV/63362, and NSE/SURV/64066 dated October 27, 2018 through September 20, 2024. No new regulatory framework changes are introduced; this is an application of the existing Long-Term ASM criteria.

Compliance Requirements

  • Members must maintain 100% margin on all open positions in KCK as of March 19, 2026
  • 100% margin must be collected on all new positions in KCK from March 20, 2026 onwards
  • Members should update their risk management systems to reflect the enhanced margin requirement for KCK

Important Dates

  • March 17, 2026: Circular issuance date
  • March 18, 2026: Inclusion of KCK in Long-Term ASM Stage I effective date
  • March 19, 2026: Last date for open positions before 100% margin kicks in
  • March 20, 2026: 100% margin requirement effective for all open and new positions

Impact Assessment

Traders and investors holding or planning to take positions in KCK Industries Limited will face significantly higher capital requirements due to the 100% margin mandate. This may reduce liquidity and trading volumes in the stock. The inclusion in ASM Stage I is a precautionary surveillance measure and not indicative of any regulatory action against the company. No securities were shifted to Trade-for-Trade (BE series) under this circular, so normal rolling settlement (EQ series) continues for KCK at this stage.

Impact Justification

Directly affects trading in KCK Industries Limited with 100% margin requirement, significantly impacting traders holding or planning positions in this security.