The Short-term Additional Surveillance Measure (ST ASM) is a framework introduced by SEBI and Indian stock exchanges to keep track of stocks with unusual or sudden trading activity. Its purpose is to safeguard investors and ensure market stability by applying temporary and stricter trading rules on stocks that appear highly volatile or speculative.
ST-ASM (Additional Surveillance Measure) Stage 1
When a stock enters Stage 1 of the ST-ASM framework, margin requirements are increased. Depending on the stock’s volatility and risk, traders may need to maintain a 50 to 100 percent margin as decided by the exchange.
At this stage, intraday leveraged trading is restricted, and only CNC (Cash and Carry) delivery trades are allowed, meaning investors must pay the full purchase amount. The stock is reviewed weekly and may be removed from the list after 5–15 trading days if it meets the criteria.
Trading is permitted but comes with strict conditions: no leverage, higher margins, and no intraday trades. These measures aim to reduce excessive speculation in volatile stocks and protect the interests of retail investors.
Here is the list of stocks that have been shortlisted in the Short-Term ASM Framework:
1. E2E Networks Limited
With a market capitalization of Rs. 6,211.91 crore, the shares of E2E Networks Limited were currently trading at Rs. 3,109.60 per equity share. On September 8th, E2E Networks was included in the ST-ASM Framework by the stock exchanges.
E2E Networks Limited was founded in 2009 and is an Indian cloud computing company providing cloud infrastructure and managed services. It offers contractless computing, hourly billed SSD public and private clouds, and advanced CloudOps to help startups and enterprises efficiently manage cloud workloads with cost-effective and scalable solutions.
2. Hemisphere Properties India Limited
With a market capitalization of Rs. 5,118.60 crore, the shares of Hemisphere Properties India Limited were currently trading at Rs. 179.60 per equity share. On September 8th, Hemisphere Properties India was included in the ST-ASM Stage 1 Framework by the stock exchanges.
Hemisphere Properties India Limited focuses on managing, developing, and selling real estate properties, including commercial and residential land across India. It operates under the Ministry of Housing & Urban Affairs.
3. Kross Limited
With a market capitalization of Rs. 1,455.33 crore, the shares of Kross Limited were currently trading at Rs. 225.60 per equity share. On September 8th, Kross was included in the ST-ASM Stage 1 Framework by the stock exchanges.
Kross Limited was established in 1991 and specializes in manufacturing high-performance forging components for commercial vehicles, tractors, and trailer axles. The company supplies critical parts like axle shafts, suspension linkages, and spindle components to major OEMs in India and globally, focusing on quality and safety.
4. MIC Electronics Limited
With a market capitalization of Rs. 1,743.72 crore, the shares of MIC Electronics Limited were currently trading at Rs. 72.35 per equity share. On September 8th, MIC Electronics was included in the ST-ASM Stage 1 Framework by the stock exchanges.
MIC Electronics Limited was established in 1988 in Hyderabad and designs, develops, and manufactures LED video displays and telecommunication equipment. The company serves sectors like sports stadiums, transportation hubs, and public information displays. It is recognized for innovation in LED technology and telecom software, with a strong presence in India and abroad.
5. One Mobikwik Systems Limited
With a market capitalization of Rs. 2,427.41 crore, the shares of One Mobikwik Systems Limited were currently trading at Rs. 310.60 per equity share. On September 8th, One Mobikwik Systems was included in the ST-ASM Stage 1 Framework by the stock exchanges.
One Mobikwik Systems Limited was founded in 2008 and is an Indian fintech company offering a digital payments platform. It operates the popular MobiKwik Wallet and Buy Now Pay Later (BNPL) services, serving millions of consumers and merchants with mobile payments, digital credit, and financial products.
6. Netweb Technologies India Limited
With a market capitalization of Rs. 17,007.77 crore, the shares of Netweb Technologies India Limited were currently trading at Rs. 3,002.05 per equity share. On September 8th, Netweb Technologies India was included in the ST-ASM Stage 1 Framework by the stock exchanges.
Netweb Technologies India Limited was incorporated in 1999 and is a leading Indian provider of high-end computing solutions (HCS). The company designs and manufactures supercomputers, high-performance servers, storage systems, and AI and cloud infrastructure. It serves diverse sectors with innovative and customized technology solutions from its headquarters in Haryana.
Criteria for Exclusion from ST ASM
A stock placed under the Short-term ASM (ST-ASM) framework remains there for a minimum of 5 to 15 trading days before it is reviewed for exit. During this time, the exchange monitors whether the stock continues to show unusual trading behavior, such as sudden price swings or heavy activity from a few investors.
If the stock no longer meets these risk factors, it may either be moved to a lower stage or removed from the framework entirely. This process ensures that only stocks with ongoing volatility or abnormal patterns stay under ST-ASM, while stable ones are released.
Written By Nikhil Naik
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