Description
NSE places 6 securities under ST-ASM Stage I effective March 27, 2026, with enhanced margin requirements of 50% or existing margin (whichever is higher) applicable from March 30, 2026.
Summary
NSE has placed 6 securities under Short-Term Additional Surveillance Measure (ST-ASM) Stage I effective March 27, 2026. Enhanced margin requirements will apply from March 30, 2026 on all open positions as on March 27, 2026 and all new positions. No securities have been added to Stage II, and no movements between stages have been made in this circular.
Key Points
- 6 securities shortlisted for ST-ASM Stage I w.e.f. March 27, 2026
- Applicable margin for Stage I: 50% or existing margin, whichever is higher (capped at 100%)
- Margin requirements effective March 30, 2026 on all open positions as on March 27, 2026 and new positions
- No securities added to ST-ASM Stage II in this circular
- No securities moved between Stage I and Stage II
- ASM framework operates alongside all other prevailing surveillance measures
- Shortlisting is purely for market surveillance purposes 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). The current circular (NSE/SURV/73471, Circular Ref. No. 224/2026) adds new securities to ST-ASM Stage I.
Compliance Requirements
- NSE Members must ensure applicable margin rates are collected for the listed securities
- Stage I margin: 50% or existing applicable margin, whichever is higher, subject to a maximum cap of 100%
- Members must apply enhanced margins on all open positions as on March 27, 2026 and on new positions created from March 30, 2026
- For queries, contact: surveillance@nse.co.in
Important Dates
- March 25, 2026: Circular issued
- March 27, 2026: Securities included in ST-ASM Stage I (shortlisting effective date)
- March 30, 2026: Enhanced margin requirements become effective on open positions (as on March 27, 2026) and new positions
Impact Assessment
The following 6 securities are placed under ST-ASM Stage I:
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | CENTRUM | Centrum Capital Limited | INE660C01027 |
| 2 | GICL | Globe International Carriers Limited | INE947T01022 |
| 3 | KRITI | Kriti Industries (India) Limited | INE479D01038 |
| 4 | MGEL | Mangalam Global Enterprise Limited | INE0APB01032 |
| 5 | MOBILISE | Mobilise App Lab Limited | INE1YNB01019 |
| 6 | PPSL | Picturepost Studios Limited | INE0YAL01017 |
Traders and investors holding or intending to trade these securities must be prepared for significantly higher margin requirements. The 50% minimum margin (capped at 100%) will substantially increase the cost of carrying positions, likely reducing liquidity and trading volumes in these stocks. Market participants with existing leveraged positions in these securities as of March 27, 2026 will face margin calls effective March 30, 2026.
Impact Justification
Direct trading restrictions on 6 securities with significant margin hikes (up to 50% minimum or 100% maximum) affecting open and new positions from March 30, 2026.