Description
NSE places 15 securities under ST-ASM Stage I with 50% margin requirement effective April 9, 2026. No securities added to Stage II.
Summary
NSE has placed 15 securities under Short-Term Additional Surveillance Measure (ST-ASM) Stage I effective April 08, 2026, pursuant to the ASM framework established via earlier circulars dating back to October 2018. A mandatory margin rate of 50% (or existing margin, whichever is higher, capped at 100%) will apply from April 09, 2026. No securities have been added to ST-ASM Stage II in this circular.
Key Points
- 15 securities shortlisted under ST-ASM Stage I w.e.f. April 08, 2026
- Margin requirement for Stage I: 50% or existing margin, whichever is higher (max cap: 100%)
- No securities added to ST-ASM Stage II (Nil list)
- New margin rates apply to all open positions as on April 08, 2026 and new positions from April 09, 2026
- ASM framework operates in conjunction with all other prevailing surveillance measures
- Shortlisting is a surveillance action and should not be construed as adverse action against the company
Regulatory Changes
This circular is issued under the ST-ASM framework established via 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). The current circular (NSE/SURV/73642, Ref No: 248/2026) updates the list of securities subject to ST-ASM.
Compliance Requirements
- Members/Brokers: Must apply the revised margin requirements on affected securities for all clients
- Stage I securities: Collect minimum 50% margin (or existing margin if higher), subject to 100% cap
- Stage II securities: Collect 100% margin (or existing margin if higher) — no new additions in this circular
- Members should refer to FAQs on the NSE website for detailed ASM framework guidelines
- Queries can be directed to surveillance@nse.co.in
Important Dates
- April 07, 2026: Circular issued
- April 08, 2026: Securities included under ST-ASM Stage I w.e.f. this date
- April 09, 2026: Revised margin rates (50% for Stage I) applicable on all open positions as on April 08, 2026 and new positions created from this date
Impact Assessment
Affected Securities (ST-ASM Stage I):
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | ALLETEC | All E Technologies Limited | INE0M2X01012 |
| 2 | BHANDARI | Bhandari Hosiery Exports Limited | INE474E01029 |
| 3 | BSHSL | Bombay Super Hybrid Seeds Limited | INE032Z01020 |
| 4 | DISHTV | Dish TV India Limited | INE836F01026 |
| 5 | HAVISHA | Sri Havisha Hospitality and Infrastructure Limited | INE293B01029 |
| 6 | ISHAN | Ishan International Limited | INE0LCW01025 |
| 7 | ORIENTALTL | Oriental Trimex Limited | INE998H01012 |
| 8 | POSITRON | Positron Energy Limited | INE0S3H01017 |
| 9 | RACE | Race Eco Chain Limited | INE084Q01012 |
| 10 | SACHEEROME | Sacheerome Limited | INE1ARD01016 |
| 11 | SEL | Sungarner Energies Limited | INE0O3O01017 |
| 12 | SHANTI | Shanti Overseas (India) Limited | INE933X01016 |
| 13 | SPCON | Srinibas Pradhan Constructions Limited | INE0TPJ01019 |
| 14 | SUVEN | Suven Life Sciences Limited | INE495B01038 |
| 15 | VIPCLOTHNG | VIP Clothing Limited | INE450G01024 |
The enhanced margin requirements will increase the cost of carrying positions in these securities, likely reducing liquidity and trading volumes. Traders with existing positions must ensure sufficient margin by April 09, 2026 or risk forced liquidation. DISHTV and SUVEN are relatively larger/well-known names among the listed securities, making their inclusion noteworthy for retail and institutional participants.
Impact Justification
Directly affects trading in 15 securities with mandatory 50% margin requirement, impacting traders holding or creating positions in these stocks from April 9, 2026.