Description

NSE announces inclusion of 5 securities under ST-ASM Stage I effective April 30, 2026, with enhanced margin requirements of 50% or higher applicable from May 4, 2026.

Summary

NSE has announced the inclusion of 5 securities under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I, effective April 30, 2026. Enhanced margin requirements of 50% (or existing margin, whichever is higher, capped at 100%) will apply from May 4, 2026 on all open positions as of April 30, 2026 and new positions created thereafter. No securities were added to ST-ASM Stage II, and no movements between stages were recorded in this circular.

Key Points

  • 5 securities added to ST-ASM Stage I effective April 30, 2026: ABANSENT, AUSOMENT, COHANCE, PATTECH, and UNIMECH
  • Margin requirement for Stage I: 50% or existing margin, whichever is higher (maximum capped at 100%)
  • Margin requirement for Stage II: 100% or existing margin, whichever is higher (maximum capped at 100%)
  • COHANCE (Cohance Lifesciences Limited) moved from High Promoter Encumbrance category to ST-ASM
  • No securities added to Stage II; no inter-stage movements
  • ASM framework operates in conjunction with all other prevailing surveillance measures

Regulatory Changes

This circular is issued further to earlier ASM circulars NSE/SURV/39265 (Oct 27, 2018), NSE/SURV/46557 (Dec 4, 2020), NSE/SURV/52144 (Apr 28, 2022), NSE/SURV/58558 (Sep 25, 2023), and NSE/SURV/64066 (Sep 20, 2024). The ST-ASM framework provisions remain consistent with prior circulars; this update applies the framework to the newly shortlisted securities.

Compliance Requirements

  • NSE members must apply enhanced margin rates of 50% (or existing margin, whichever is higher) for ST-ASM Stage I securities on all open positions as of April 30, 2026
  • Enhanced margins must also apply to new positions in these securities created from May 4, 2026
  • Members should note that inclusion under ASM is a surveillance action and should not be construed as adverse action against the listed company
  • For queries, contact surveillance@nse.co.in

Important Dates

  • April 29, 2026: Circular issued
  • April 30, 2026: Securities officially shortlisted/included under ST-ASM Stage I; open positions subject to enhanced margins identified
  • May 4, 2026: Enhanced margin requirements become effective for all open positions (as of April 30) and new positions

Impact Assessment

Traders and investors holding positions in ABANSENT (Abans Enterprises), AUSOMENT (Ausom Enterprise), COHANCE (Cohance Lifesciences), PATTECH (Pattech Fitwell Tube Components), and UNIMECH (Unimech Aerospace and Manufacturing) will face significantly higher margin requirements starting May 4, 2026. The 50% minimum margin requirement may force position liquidations for traders unable to meet the enhanced margin calls, potentially increasing selling pressure on these stocks. The inclusion signals heightened regulatory scrutiny due to market surveillance triggers, though NSE explicitly notes this is not an adverse finding against the companies themselves.

Impact Justification

Directly affects trading margins for 5 securities, imposing 50% minimum margin from May 4, 2026, which significantly impacts traders holding or planning positions in these stocks.