NSE has announced the inclusion of three securities under the Long Term Additional Surveillance Measure (LTASM) Stage I framework effective April 08, 2026. A 100% margin requirement will apply on all open positions as of April 09, 2026 and all new positions from April 10, 2026 onwards. No securities were shortlisted for Stage IV, Stage I to Stage II, Stage II to Stage III, or Stage I to Stage IV transitions.

Key Points

• Three securities added to Long Term ASM Stage I effective April 08, 2026
• 100% margin applicable from April 10, 2026 on all open and new positions
• OMNI (Omnitech Engineering Limited) moved from Short Term ASM (STASM) to Long Term ASM (LTASM) framework
• No securities shortlisted for Stage IV or any inter-stage movements
• ASM framework operates in conjunction with all other prevailing surveillance measures
• Shortlisting is purely for market surveillance purposes and not an adverse action against the company

Regulatory Changes

Securities included under Long Term ASM Stage I are subject to enhanced margin requirements. Securities qualifying under Criteria VII (Stage IV) would be shifted from Rolling Settlement (Series: EQ) to Trade-for-Trade segment (Series: BE) on a T+3 basis, though no securities were shortlisted under this criterion in this circular.

Reference circulars: NSE/SURV/39265, NSE/SURV/45111, NSE/SURV/46557, NSE/SURV/48506, NSE/SURV/52090, NSE/SURV/63362, NSE/SURV/64066.

Compliance Requirements

• Members must ensure 100% margin is collected on all open positions in the listed securities as on April 09, 2026
• 100% margin must be collected on all new positions in these securities from April 10, 2026 onwards
• Members should note the ASM framework applies alongside all other existing surveillance measures

Important Dates

• April 07, 2026: Circular issuance date
• April 08, 2026: Effective date for LTASM Stage I inclusion of securities
• April 09, 2026: Reference date for open positions subject to 100% margin
• April 10, 2026: 100% margin requirement becomes effective for open and new positions

Impact Assessment

Affected Securities (LTASM Stage I - New Inclusions):

*OMNI moved from STASM to LTASM framework.

The 100% margin requirement significantly increases the cost of trading in these securities, likely reducing liquidity and speculative activity. Existing position holders face immediate margin calls on open positions as of April 09, 2026. The measure is designed to protect market integrity by deterring excessive speculation in potentially volatile securities.