Description
NSE adds 14 securities to ST-ASM Stage I effective April 22, 2026, imposing 50% margin requirement on all open and new positions from April 23, 2026. No securities added to Stage II.
Summary
NSE has placed 14 securities under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I effective April 22, 2026, pursuant to Circular Ref. No. 287/2026 (Download Ref No: NSE/SURV/73828). A 50% margin requirement (or existing margin, whichever is higher, capped at 100%) applies on all open positions as of April 22, 2026, and new positions from April 23, 2026. No securities have been added to Stage II.
Key Points
- 14 securities added to ST-ASM Stage I effective April 22, 2026
- Margin rate for Stage I: 50% or existing margin, whichever is higher (max capped at 100%)
- Margin rate for Stage II: 100% or existing margin, whichever is higher (max capped at 100%) — no new additions this cycle
- ST-ASM operates in conjunction with 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 prior 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). Securities meeting ST-ASM criteria are now subject to enhanced margin obligations under the ST-ASM framework.
Compliance Requirements
- Members/Brokers: Collect enhanced margins from clients holding or trading the listed securities as per the applicable stage requirements
- Stage I margin: 50% or existing margin (whichever is higher), subject to a maximum of 100%
- Applicability: Covers all open positions as on April 22, 2026, and all new positions created from April 23, 2026
- For queries, contact: surveillance@nse.co.in
Important Dates
| Event | Date |
|---|---|
| Circular Date | April 21, 2026 |
| ST-ASM Stage I Inclusion Effective | April 22, 2026 |
| Enhanced Margin Applicable From | April 23, 2026 |
Securities Under ST-ASM Stage I (Effective April 22, 2026)
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | 63MOONS | 63 moons technologies limited | INE111B01023 |
| 2 | ARVINDPORT | Arvind Port and Infra Limited | INE0P4T01013 |
| 3 | HRHNEXT | HRH Next Services Limited | INE0R3501012 |
| 4 | INVPRECQ | Investment & Precision Castings Limited | INE155E01016 |
| 5 | KARMAENG | Karma Energy Limited | INE725L01011 |
| 6 | KRITI | Kriti Industries (India) Limited | INE479D01038 |
| 7 | LLOYDSENT | Lloyds Enterprises Limited | INE080I01025 |
| 8 | MIEL | Manglam Infra & Engineering Limited | INE0R3101011 |
| 9 | PROZONER | Prozone Realty Limited | INE195N01013 |
| 10 | QPOWER | Quality Power Electrical Equipments Limited | INE0SII01026 |
| 11 | ROCKINGDCE | Rockingdeals Circular Economy Limited | INE0PTR01012 |
| 12 | SPCON | Srinibas Pradhan Constructions Limited | INE0TPJ01019 |
| 13 | TAURIAN | Taurian MPS Limited | INE0XWS01018 |
| 14 | VAISHALI | Vaishali Pharma Limited | INE972X01022 |
Stage II Additions: Nil
Impact Assessment
Traders and investors holding positions in any of the 14 listed securities face significantly higher margin requirements starting April 23, 2026. The mandatory 50% margin for Stage I positions can constrain leveraged positions and force de-leveraging. Retail and institutional participants should review their exposure to these securities and ensure adequate margin availability to avoid forced liquidation. The ASM framework is a surveillance tool and does not reflect on the fundamental quality of the underlying companies, but the enhanced margin requirements typically reduce liquidity and increase trading costs in the affected securities.
Impact Justification
14 stocks placed under ST-ASM Stage I with mandatory 50% margin requirement effective immediately, directly impacting trading costs and position limits for market participants holding or trading these securities.