Description
NSE shortlists 8 securities under ST-ASM Stage I effective May 4, 2026, with enhanced margin requirements of 50% or higher applicable from May 5, 2026. No securities added to Stage II.
Summary
NSE has shortlisted 8 securities under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I effective May 4, 2026, with enhanced margin requirements applicable from May 5, 2026. No securities have been added to ST-ASM Stage II in this circular. One security (VERANDA) has been moved from the High Promoter Encumbrance framework to ST-ASM.
Key Points
- 8 securities added to ST-ASM Stage I effective May 4, 2026
- Stage I margin requirement: 50% or existing margin, whichever is higher (max 100%)
- Stage II margin requirement: 100% or existing margin, whichever is higher (max 100%)
- No securities added to Stage II (Nil)
- VERANDA moved from High Promoter Encumbrance framework to ST-ASM
- ASM framework operates in conjunction with all other prevailing surveillance measures
- Shortlisting is purely for market surveillance and not an adverse action against the company
Regulatory Changes
Securities satisfying ST-ASM criteria are subject to enhanced margin requirements as per the ASM framework established under earlier circulars NSE/SURV/39265, NSE/SURV/46557, NSE/SURV/52144, NSE/SURV/58558, and NSE/SURV/64066. The price band for securities exiting the framework reverts to the pre-shortlisting level, unless the security is under another surveillance measure.
Compliance Requirements
- Members must apply the applicable margin rates on all open positions as on May 4, 2026 and new positions from May 5, 2026
- Stage I securities: minimum 50% margin (capped at 100%)
- Stage II securities: minimum 100% margin (capped at 100%)
- Members should refer to FAQs at https://www.nseindia.com/regulations/additional-surveillance-measure for detailed guidance
- Queries to be directed to surveillance@nse.co.in
Important Dates
- April 30, 2026: Circular issued
- May 4, 2026: Effective date of ST-ASM shortlisting for listed securities
- May 5, 2026: Enhanced margin requirements apply on all open positions as on May 4, 2026 and new positions
Impact Assessment
ST-ASM Stage I Securities (effective May 4, 2026):
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | 63MOONS | 63 moons technologies limited | INE111B01023 |
| 2 | ANLON | Anlon Technology Solutions Limited | INE0LR101013 |
| 3 | DAMODARIND | Damodar Industries Limited | INE497D01022 |
| 4 | HALDYNGL | Haldyn Glass Limited | INE506D01020 |
| 5 | IDEAFORGE | Ideaforge Technology Limited | INE349Y01013 |
| 6 | JAINAM | Jainam Ferro Alloys (I) Limited | INE02KC01010 |
| 7 | PRITIKA | Pritika Engineering Components Limited | INE0MJQ01020 |
| 8 | VERANDA | Veranda Learning Solutions Limited* | INE0IQ001011 |
*Moved from High Promoter Encumbrance framework to ST-ASM
ST-ASM Stage II Securities: Nil
Traders and investors holding positions in these 8 securities will face significantly higher margin requirements from May 5, 2026, which may lead to forced liquidations for under-margined accounts. Liquidity in these securities may reduce as the increased margin cost raises the barrier for leveraged participants.
Impact Justification
Directly affects trading in 8 specific securities with mandatory margin hikes of up to 100%, impacting traders holding or creating positions from May 5, 2026.