Description

NSE places Agni Green Power Limited (AGNI) and TAC Infosec Limited (TAC) under Long Term Additional Surveillance Measure (ASM) Stage I effective April 09, 2026, with 100% margin requirement applicable from April 13, 2026.

Summary

NSE has placed two securities — Agni Green Power Limited (AGNI) and TAC Infosec Limited (TAC) — under the Long Term Additional Surveillance Measure (ASM) Stage I framework effective April 09, 2026. A mandatory 100% margin will apply from April 13, 2026 on all open positions as of April 10, 2026 and on all new positions created thereafter.

Key Points

  • AGNI (Agni Green Power Limited, ISIN: INE0LF301013) added to Long Term ASM Stage I
  • TAC (TAC Infosec Limited, ISIN: INE0SOY01013) added to Long Term ASM Stage I
  • 100% margin requirement imposed on both securities
  • No securities moved to Stage II, Stage III, or Stage IV in this circular
  • ASM classification is a market surveillance action and should not be construed as adverse action against the company

Regulatory Changes

The ASM framework is being applied under reference to Exchange Circulars NSE/SURV/39265, NSE/SURV/45111, NSE/SURV/46557, NSE/SURV/48506, NSE/SURV/52090, NSE/SURV/63362, and NSE/SURV/64066 (issued between October 2018 and September 2024). Securities qualifying under Criteria VII (Stage IV) would be shifted from Rolling Settlement (Series: EQ) to Trade-for-Trade segment (Series: BE), but no securities met this criteria in this circular.

Compliance Requirements

  • NSE members must apply 100% margin on all open positions in AGNI and TAC as of April 10, 2026
  • 100% margin must be collected on all new positions in these securities created from April 13, 2026 onwards
  • The ASM framework operates in conjunction with all other prevailing surveillance measures imposed by exchanges
  • Members may refer to NSE FAQs on ASM at https://www.nseindia.com/regulations/additional-surveillance-measure
  • Queries can be directed to surveillance@nse.co.in

Important Dates

  • April 08, 2026 — Circular issued
  • April 09, 2026 — Inclusion of AGNI and TAC in Long Term ASM Stage I takes effect
  • April 10, 2026 — Reference date for existing open positions subject to 100% margin
  • April 13, 2026 — 100% margin requirement becomes effective for open positions and all new positions

Impact Assessment

Traders and investors holding or planning to trade AGNI (Agni Green Power Limited) and TAC (TAC Infosec Limited) will face significantly increased capital requirements due to the 100% margin mandate. This is likely to reduce liquidity and trading volumes in both securities. The inclusion under ASM Stage I signals heightened regulatory scrutiny based on market surveillance criteria such as price volatility, volume anomalies, or other risk parameters. No securities were escalated to higher ASM stages (II, III, or IV) in this circular, and no Trade-for-Trade segment shifts were triggered.

Impact Justification

Two securities placed under Long Term ASM Stage I with 100% margin requirement, directly restricting trading conditions for holders and traders of AGNI and TAC.