SAHAJSOLAR - Stock Market Circularshttps://rhnvrm.github.io/stock-market-circulars/stocks/sahajsolar/Regulatory circulars from NSE, BSE, and SEBI with AI-powered summariesHugo -- gohugo.ioen-usThu, 23 Apr 2026 00:00:00 +0000NSE ST-ASM: 24 Securities Added to Stage I, 1 Moved to Stage II, 13 Excluded – Effective April 24, 2026https://rhnvrm.github.io/stock-market-circulars/circulars/nse/2026/nse-2026-04-23-0ec4c81fa8ccf5be-applicability-of-short-term-additional-surveillance-measure-st-asm/Thu, 23 Apr 2026 00:00:00 +0530https://rhnvrm.github.io/stock-market-circulars/circulars/nse/2026/nse-2026-04-23-0ec4c81fa8ccf5be-applicability-of-short-term-additional-surveillance-measure-st-asm/NSE applies Short-Term Additional Surveillance Measure (ST-ASM) to 24 new securities under Stage I, moves CEDAAR to Stage II, and excludes 13 securities from the ASM framework, all effective April 24, 2026.nsetradinghighhighhigh0ec4c81fa8ccf5behttps://nsearchives.nseindia.com/content/circulars/SURV73873.zipASPIREBFUTILITIEBHANDARIBIRLAMONEYBSHSLFINBUDGLOTTISJTLINDKANANIINDLAXMIINDIAMEGATHERMNAGREEKEXPNDLSAHAJSOLARSDREAMSSHYAMCENTSTALLIONSTYLEBAAZAUNIINFOVGINFOTECHVIPCLOTHNGVLINFRAVMARCINDWALCHANNAGCEDAARAMBEYGALLANTTGEEKAYWIREMANAKSTEELMANALIPETCNAGREEKCAPNIACLNINSYSNRVANDANASHRADHATILVIDYAWIRESZENITHSTLsurveillancest-asmasmstage-istage-iiexclusiontrading-restrictionsSummary

NSE has issued an updated Short-Term Additional Surveillance Measure (ST-ASM) circular effective April 24, 2026. Twenty-four securities are newly shortlisted under ST-ASM Stage I, one security (CEDAAR) is escalated from Stage I to Stage II, no securities move from Stage II to Stage I, and thirteen securities are excluded from the ASM framework entirely.

Key Points

  • 24 securities added to ST-ASM Stage I effective April 24, 2026
  • 0 securities added directly to ST-ASM Stage II
  • 1 security (CEDAAR – Cedaar Textile Limited) escalated from Stage I to Stage II
  • 0 securities moved down from Stage II to Stage I
  • 13 securities excluded from the ASM framework effective April 24, 2026
  • Exclusions include transfers: GALLANTT moved to LT-ASM; AMBEY, MANAKSTEEL, NAGREEKCAP, and NINSYS moved to ESM framework

Regulatory Changes

The ST-ASM framework is updated periodically by NSE based on surveillance criteria such as abnormal price/volume movements. Securities placed under ST-ASM face enhanced margin requirements and restricted trading conditions. Stage II represents a higher surveillance level than Stage I with more stringent restrictions.

Compliance Requirements

  • Brokers and members must ensure clients are aware of enhanced margin requirements for all ST-ASM listed securities from April 24, 2026
  • Investors holding or trading any of the 24 newly added Stage I securities or CEDAAR (now Stage II) should review applicable margin and trade settlement conditions
  • Clearing members must apply revised margins per the ASM framework guidelines from the effective date

Important Dates

  • Effective date for all changes: April 24, 2026

Impact Assessment

Newly added to ST-ASM Stage I (24 securities): ASPIRE, BFUTILITIE, BHANDARI, BIRLAMONEY, BSHSL, FINBUD, GLOTTIS, JTLIND, KANANIIND, LAXMIINDIA, MEGATHERM, NAGREEKEXP, NDL, SAHAJSOLAR, SDREAMS, SHYAMCENT, STALLION, STYLEBAAZA, UNIINFO, VGINFOTECH, VIPCLOTHNG, VLINFRA, VMARCIND, WALCHANNAG

Escalated to ST-ASM Stage II (1 security): CEDAAR (Cedaar Textile Limited | INE11J101017)

Excluded from ASM Framework (13 securities): AMBEY (→ESM), GALLANTT (→LT-ASM), GEEKAYWIRE, MANAKSTEEL (→ESM), MANALIPETC, NAGREEKCAP (→ESM), NIACL, NINSYS (→ESM), NRVANDANA, SHRADHA, TIL, VIDYAWIRES, ZENITHSTL

Traders in newly added securities will face higher upfront margins, potentially reducing liquidity and increasing cost of carry. Securities excluded from ASM (where not moved to a stricter framework) may see improved trading conditions and liquidity from April 24, 2026.

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