NSE circular announcing securities being added to and consolidated under the Enhanced Surveillance Measure (ESM) framework effective May 20, 2026, with 2 new securities entering Stage I and no changes to Stage II movements or exclusions.
Impact
High
Severity
High
Justification
ESM placement significantly restricts trading in affected securities, impacting liquidity and investor activity. Two new securities enter Stage I effective May 20, 2026, while the consolidated list includes 23 Stage II and multiple Stage I securities facing heightened surveillance and trade restrictions.
NSE places 13 securities under ESM Stage I and moves 1 security to Stage II effective April 21-22, 2026, requiring 100% margin and shift to Trade-for-Trade settlement.
Impact
High
Severity
High
Justification
13 securities placed under ESM Stage I with mandatory 100% margin and forced migration to Trade-for-Trade settlement; directly restricts trading in named stocks including notable names like Dish TV India Limited and Kirloskar Electric Company Limited.
NSE places 14 securities under ST-ASM Stage I and additional securities under ST-ASM Stage II effective April 21, 2026, with margin requirements of 50%-100% on open and new positions.
Impact
High
Severity
High
Justification
Directly imposes elevated margin requirements (50%-100%) on 14+ named securities effective April 21, 2026, significantly affecting trading costs and positions for market participants holding these stocks.
List of securities subject to Reversal Trade Cancellation Mechanism (RTCM) for December 2025, covering over 300 stocks where specific trade cancellation procedures will apply.
Impact
Medium
Severity
Medium
Justification
Affects trading operations for over 300 securities with specific trade cancellation procedures. Important for traders and market participants dealing with these stocks to understand RTCM applicability.