Description
NSE announces 10 securities added to Long-Term ASM Stage I and 6 securities moved down from Stage II to Stage I, effective April 27, 2026.
Summary
NSE has issued its periodic Additional Surveillance Measure (ASM) update under the Long-Term ASM (LTASM) framework. Effective April 27, 2026, 10 securities are being added to LTASM Stage I, while 6 securities are being moved down from Stage II to Stage I. No securities are being moved to Stage IV, and all other stage transitions (I→II, II→III, III→IV, IV→III, III→II) show nil entries for this cycle.
Key Points
- 10 securities shortlisted for inclusion in Long-Term ASM Framework Stage I effective April 27, 2026
- 4 of the 10 newly added stocks (KRITI, KRN, QPOWER, SHYAMCENT) are moved from Short-Term ASM (STASM) to LTASM framework
- 2 securities (DELTAMAGNT, SHIVAMILLS) qualify based on criteria satisfied at BSE
- 6 securities downgraded from LTASM Stage II to Stage I, indicating partial improvement in surveillance concern
- No securities shortlisted for Stage IV under any pathway in this cycle
- Stage IV scrips would have faced shift from Rolling Settlement (EQ series) to Trade for Trade (BE series) on T+3 basis
Regulatory Changes
The following securities are newly placed under Long-Term ASM Framework Stage I:
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | ATLANTAELE | Atlanta Electricals Limited | INE0Z4F01028 |
| 2 | BIRLACABLE | Birla Cable Limited | INE800A01015 |
| 3 | CMNL | Chaman Metallics Limited | INE06PV01010 |
| 4 | KRITI | Kriti Industries (India) Limited* | INE479D01038 |
| 5 | KRN | KRN Heat Exchanger and Refrigeration Limited* | INE0Q3J01015 |
| 6 | QPOWER | Quality Power Electrical Equipments Limited* | INE0SII01026 |
| 7 | SHYAMCENT | Shyam Century Ferrous Limited* | INE979R01011 |
| 8 | TIPSFILMS | Tips Films Limited | INE0LQS01015 |
| 9 | DELTAMAGNT | Delta Manufacturing Limited# | INE393A01011 |
| 10 | SHIVAMILLS | Shiva Mills Limited# | INE644Y01017 |
*Moved from STASM to LTASM framework #Satisfies criteria at BSE
The following securities are moved from LTASM Stage II to Stage I (reduction in surveillance intensity):
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | AVATAR | AVATAR Industries Limited | INE617I01024 |
| 2 | DSFCL | DCM Shriram Fine Chemicals Limited | INE0OFM01015 |
| 3 | RAMASTEEL | Rama Steel Tubes Limited | INE230R01035 |
| 4 | SHEEL | Sheel Biotech Limited | INE0YJV01017 |
| 5 | STLTECH | Sterlite Technologies Limited | INE089C01029 |
| 6 | VERTOZ | Vertoz Limited | INE188Y01031 |
Compliance Requirements
- Brokers and members must update margin and settlement parameters for all 16 affected securities before market open on April 27, 2026
- Clients holding positions in newly added LTASM Stage I stocks must be informed of enhanced surveillance implications including applicable margin requirements
- Stocks moved from STASM to LTASM (KRITI, KRN, QPOWER, SHYAMCENT) should have their STASM-related restrictions replaced by LTASM Stage I conditions
- No Trade for Trade (BE series) settlement changes apply this cycle as Stage IV lists are nil
Important Dates
- April 24, 2026: Circular issuance date
- April 27, 2026: Effective date for all LTASM stage changes (Stage I additions and Stage II → Stage I movements)
Impact Assessment
This circular has a high direct impact on traders and investors in the 16 affected securities. Securities newly placed in LTASM Stage I face enhanced surveillance conditions, including higher margin requirements, which typically reduce trading activity and liquidity. The 4 stocks migrating from STASM to LTASM signal that the surveillance concerns around them are persistent rather than short-term. Conversely, the 6 securities moving from Stage II to Stage I represent a modest regulatory easing for those counters. The absence of any Stage IV additions is a positive sign, as Stage IV would trigger a move to Trade for Trade settlement (BE series), which significantly constrains intraday trading. Overall market impact is limited to the specific scrips listed; broader indices are unlikely to be affected.
Impact Justification
Directly affects trading conditions for 16 listed securities with ASM stage changes; traders and investors in these scrips face margin and settlement implications effective April 27, 2026.