Description
NSE places 8 securities under ST-ASM Stage I and moves Wonder Electricals Limited from Stage I to Stage II effective May 07, 2026, with enhanced margin requirements of 50%-100% applicable from May 08, 2026.
Summary
NSE has issued Circular No. 332/2026 (Download Ref: NSE/SURV/74086) dated May 06, 2026, under the Short-Term Additional Surveillance Measure (ST-ASM) framework. Eight securities have been newly included under ST-ASM Stage I, one security (WEL - Wonder Electricals Limited) has been moved from Stage I to Stage II, and no securities are newly included in Stage II. Enhanced margin requirements become effective from May 08, 2026.
Key Points
- 8 securities added to ST-ASM Stage I effective May 07, 2026: ARISTO, BHARATWIRE, IFBAGRO, MANOMAY, MANORG, NAMOEWASTE, STANLEY, WOMANCART
- 1 security moved from ST-ASM Stage I to Stage II effective May 07, 2026: WEL (Wonder Electricals Limited)
- No new securities added directly to ST-ASM Stage II
- ST-ASM Stage I margin: 50% or existing margin, whichever is higher (capped at 100%)
- ST-ASM Stage II margin: 100% or existing margin, whichever is higher (capped at 100%)
- Margins apply to all open positions as on May 07, 2026 and new positions from May 08, 2026
- ASM framework operates in conjunction with all other prevailing surveillance measures
- Shortlisting is purely for market surveillance and should not be construed as adverse action against the companies
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). The current update applies the ST-ASM framework criteria to newly qualifying securities.
Compliance Requirements
- NSE Members: Must ensure margin collection of at least 50% for Stage I securities and 100% for Stage II securities on all positions from May 08, 2026
- Stage I securities: Applicable margin = max(50%, existing margin), subject to a ceiling of 100%
- Stage II securities: Applicable margin = max(100%, existing margin), subject to a ceiling of 100%
- Members should refer to the ASM FAQs at https://www.nseindia.com/regulations/additional-surveillance-measure for further guidance
- Queries can be directed to surveillance@nse.co.in
Important Dates
| Event | Date |
|---|---|
| Circular Date | May 06, 2026 |
| Securities inclusion / stage change effective | May 07, 2026 |
| Enhanced margin applicable on open positions | May 07, 2026 (end of day) |
| Enhanced margin applicable on new positions | May 08, 2026 |
Impact Assessment
Securities added to ST-ASM Stage I (8 securities):
| Symbol | Security Name | ISIN |
|---|---|---|
| ARISTO | Aristo Bio-Tech And Lifescience Limited | INE082101010 |
| BHARATWIRE | Bharat Wire Ropes Limited | INE316L01019 |
| IFBAGRO | IFB Agro Industries Limited | INE076C01018 |
| MANOMAY | Manomay Tex India Limited | INE784W01015 |
| MANORG | Mangalam Organics Limited | INE370D01013 |
| NAMOEWASTE | Namo eWaste Management Limited | INE08NZ01012 |
| STANLEY | Stanley Lifestyles Limited | INE01A001028 |
| WOMANCART | Womancart Limited | INE0Q9601016 |
Securities moved from Stage I to Stage II (1 security):
| Symbol | Security Name | ISIN |
|---|---|---|
| WEL | Wonder Electricals Limited | INE02WG01024 |
Traders holding or intending to trade these securities will face higher margin requirements, reducing leverage and potentially limiting liquidity. For WEL, the margin escalation to 100% significantly constrains intraday and positional trading. The measures are temporary and surveillance-driven, not indicative of fundamental issues with the listed companies.
Impact Justification
Affects 9 securities with mandatory margin increases (50-100%), restricting leveraged trading. Moderate market impact as it is a routine surveillance action with no adverse implication against companies.