Short-term Additional Surveillance Measure (ST ASM), introduced by SEBI and Indian stock exchanges, keeps track of stocks showing sudden or unusual trading patterns. It protects investors and upholds market integrity by applying temporary, stricter trading regulations on volatile or speculative shares.
Criteria for Inclusion in ST ASM
Stocks are placed under the Short-term Additional Surveillance Measure (ST ASM) based on objective, market-driven criteria set by SEBI and exchanges. Key factors include abnormal price swings, unusual volume surges, high client concentration, low trader diversity, and short-term volatility (5–15 days), enabling stricter temporary monitoring of speculative activity.
Criteria for Exclusion from ST ASM
A stock can exit the ST ASM framework once it no longer meets the specified inclusion criteria. It must remain under ST ASM for at least 5 or 15 trading days, depending on the stage, before being reviewed.
Stage-wise evaluations determine whether factors like abnormal price swings or high client concentration persist. If such conditions are absent, the stock is either shifted to a lower stage or removed from Stage I. Continuous monitoring ensures that only stocks with recent unusual trading behavior stay under ST ASM.
Here are a few stocks that have been excluded from the ST-ASM Framework:
Netweb Technologies India Limited
With a market capitalization of Rs. 22,404.62 crore, the shares of Netweb Technologies India Limited were currently trading at Rs. 3,994.70 per equity share. On September 30th, Netweb Technologies India Ltd was excluded from the ST-ASM Framework by the stock exchanges.
Netweb Technologies India Limited was established in 1999 and is engaged in designing and manufacturing high-end computing solutions, including supercomputers, data center servers, cloud, AI systems, and enterprise storage, serving businesses, research, and government sectors in India.
Kross Limited
With a market capitalization of Rs. 1,259.87 crore, the shares of Kross Limited were currently trading at Rs. 195.30 per equity share. On September 30th, Kross Ltd was excluded from the ST-ASM Framework by the stock exchanges.
Kross Limited is engaged in manufacturing and supplying trailer axles, suspensions, and forged safety-critical components for medium and heavy commercial vehicles and agricultural equipment. It serves major OEMs like Tata Motors, Ashok Leyland, and TAFE in India.
Banco Products (India) Limited
With a market capitalization of Rs. 12,093.09 crore, the shares of Banco Products (India) Limited were currently trading at Rs. 845.45 per equity share. On September 30th, Banco Products (India) Ltd was excluded from the ST-ASM Framework by the stock exchanges.
Banco Products (India) Limited was established in 1961 and designs and manufactures engine cooling modules, radiators, and gaskets for automotive, industrial, and off-highway applications. It serves OEMs and aftermarket segments in domestic and international markets, emphasizing innovation and quality.
Jaykay Enterprises Limited
With a market capitalization of Rs. 3,089.76 crore, the shares of Jaykay Enterprises Limited were currently trading at Rs. 237.15 per equity share. On September 30th, Jaykay Enterprises Ltd was excluded from the ST-ASM Framework by the stock exchanges.
Jaykay Enterprises Limited was founded in 1961 and specializes in advanced manufacturing technologies, including additive manufacturing, 3D printing, and powder metallurgy. It serves defense, aerospace, and medtech sectors with high-precision engineering solutions, part of the JK Organization.
National Plastic Technologies Limited
With a market capitalization of Rs. 158.64 crore, the shares of National Plastic Technologies Limited were currently trading at Rs. 261 per equity share. On September 30th, National Plastic Technologies Ltd was excluded from the ST-ASM Framework by the stock exchanges.
National Plastic Technologies Limited was established in 1951 and is headquartered in Chennai. It manufactures injection-moulded plastic products and serves automotive, consumer durable, two- and four-wheelers, EVs, and food & beverage packaging industries, operating multiple plants across India.
Written By – Nikhil Naik
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