Description
NSE announces 11 securities added to ST-ASM Stage I and 15 securities excluded from the ASM framework, effective April 23, 2026. No securities moved between Stage I and Stage II.
Summary
NSE has issued a circular updating the Short-Term Additional Surveillance Measure (ST-ASM) framework effective April 23, 2026. Eleven securities have been freshly added to ST-ASM Stage I, while fifteen securities have been excluded from the ASM framework entirely. No securities have been moved between Stage I and Stage II in this update.
Key Points
- 11 securities added to ST-ASM Stage I effective April 23, 2026
- No securities added to ST-ASM Stage II
- No inter-stage movements (Stage I to Stage II or vice versa)
- 15 securities excluded from the ASM framework effective April 23, 2026
- THAKDEV (Thakkers Developers Limited) qualifies under ST-ASM criteria at BSE only
- NAMAN (Naman Industries Proxima Limited) moved from STASM to LTASM (Long-Term ASM) framework
- BRANDMAN, PENINLAND, RUDRA, SADHNANIQ, and VAISHALI moved from STASM to ESM (Enhanced Surveillance Measure) framework
Regulatory Changes
The ST-ASM framework applies enhanced surveillance and trading restrictions to securities exhibiting unusual price or volume movements. Securities placed under ST-ASM Stage I are subject to additional margin requirements and may face trade-for-trade settlement. Stage II carries stricter restrictions than Stage I.
Compliance Requirements
- Brokers and trading members must update margin collection and risk management systems for the 11 newly added ST-ASM Stage I securities from April 23, 2026
- Clients holding positions in newly added securities should be informed of the changed surveillance status
- Brokers must update their systems to reflect the removal of 15 securities from ASM restrictions
- For securities migrating to ESM (BRANDMAN, PENINLAND, RUDRA, SADHNANIQ, VAISHALI), brokers must apply ESM-specific trading restrictions instead
- For NAMAN, LTASM framework rules now apply in place of STASM rules
Important Dates
- Effective Date: April 23, 2026 — all additions, exclusions, and stage changes come into force
Impact Assessment
Newly Added to ST-ASM Stage I (11 securities):
| Symbol | Security Name | ISIN |
|---|---|---|
| AMBEY | Ambey Laboratories Limited | INE0M3I01029 |
| E2ERAIL | E To E Transportation Infrastructure Limited | INE1CEJ01017 |
| JNKINDIA | JNK India Limited | INE0OAF01028 |
| KORE | Jay Jalaram Technologies Limited | INE0J6801010 |
| ROLLT | Rollatainers Limited | INE927A01040 |
| SPLIL | SPL Industries Limited | INE978G01016 |
| STERTOOLS | Sterling Tools Limited | INE334A01023 |
| SUNLITE | Sunlite Recycling Industries Limited | INE0U2N01013 |
| WEWIN | WE WIN LIMITED | INE082W01014 |
| WHITEFORCE | Happy Square Outsourcing Services Limited | INE0TLP01015 |
| THAKDEV | Thakkers Developers Limited (BSE criteria) | INE403F01017 |
Excluded from ASM Framework (15 securities):
| Symbol | Security Name | ISIN | Note |
|---|---|---|---|
| ARVEE | Arvee Laboratories (India) Limited | INE006Z01016 | — |
| BRANDMAN | Brandman Retail Limited | INE0XUD01014 | Moved to ESM |
| DPWIRES | D P Wires Limited | INE864X01013 | — |
| GEECEE | GeeCee Ventures Limited | INE916G01016 | — |
| GLOTTIS | Glottis Limited | INE0TQE01026 | — |
| LAXMIINDIA | Laxmi India Finance Limited | INE06WU01026 | — |
| NAMAN | Naman Industries Proxima Limited | INE0RJM01010 | Moved to LTASM |
| PENINLAND | Peninsula Land Limited | INE138A01028 | Moved to ESM |
| PENTAGON | Pentagon Rubber Limited | INE0ORS01017 | — |
| RUDRA | Rudra Global Infra Products Limited | INE027T01023 | Moved to ESM |
| SADHNANIQ | Sadhana Nitrochem Limited | INE888C01040 | Moved to ESM |
| SAMAY | Samay Project Services Limited | INE124101010 | — |
| VAISHALI | Vaishali Pharma Limited | INE972X01022 | Moved to ESM |
| VIGOR | Vigor Plast India Limited | INE1DM601016 | — |
| VINSYS | Vinsys IT Services India Limited | INE0OSJ01014 | — |
Investors in newly added ST-ASM securities should expect higher margin requirements and possible trade-for-trade settlement obligations. Securities removed from ASM (non-ESM/LTASM) revert to normal trading conditions, which may provide a positive sentiment signal for those counters.
Impact Justification
Routine ST-ASM update affecting 26 securities; 11 newly placed under enhanced surveillance (Stage I) and 15 removed from ASM framework. Trading in affected securities will face additional margin and monitoring requirements, impacting retail and institutional participants holding these stocks.