The Short-term Additional Surveillance Measure (ST-ASM) is a regulatory mechanism introduced by SEBI and Indian stock exchanges to closely monitor stocks that exhibit unusual or sudden trading activity. Its primary goal is to safeguard investors and uphold market stability by applying temporary, tighter trading restrictions on highly volatile or speculative stocks.
Criteria for Exclusion from ST-ASM
A stock may be considered for exit from the ST-ASM framework if it no longer meets the inclusion criteria. The process is as follows:
- Minimum Period: A stock must remain in the Short-term ASM (ST-ASM) framework for a minimum period, typically 5 or 15 trading days, depending on the stage, before it becomes eligible for review and possible exit.
- Stage-wise Review: Stocks are reviewed after completing the minimum period in each stage. The review assesses whether the stock still meets the entry criteria for ST-ASM, such as abnormal price movements or high client concentration.
- Exit Criteria: If, during the review, the stock no longer meets the inclusion criteria for its current stage, it is eligible to move to the next lower stage. A stock in Stage I that does not meet the criteria can be fully exited from the ST-ASM framework.
- Ongoing Monitoring: The process is dynamic, with regular reviews ensuring that only stocks displaying recent abnormal trading patterns remain under ST-ASM.
Here is the list of stocks that have been excluded from the ST-ASM Framework:
Rushil Decor Ltd
Rushil Decor Ltd. is an Indian company founded in 1993 that manufactures and markets interior products, primarily Decorative Laminate Sheets and Medium Density Fibre (MDF) boards. The company also produces a range of other products, including Plain Particle Boards, HDFWR Boards, and PVC Boards. On October 10, 2025, Rushil Decor was excluded from the ST-ASM Framework by the stock exchanges.
Umiya Buildcon Ltd
Umiya Buildcon Ltd is a public company established in 1984 that operates in two main sectors: telecommunications equipment and real estate. The company develops and sells access and networking equipment through its subsidiary, MRO-TEK Private Limited, while also managing real estate projects and property rentals. On October 10, 2025, Umiya Buildcon was excluded from the ST-ASM Framework by the stock exchanges.
RIR Power Electronics Ltd
RIR Power Electronics Ltd. (formerly Ruttonsha International Rectifier Ltd.) is an Indian company that manufactures specialized power semiconductor devices and high-power equipment like rectifiers and battery chargers. It has a strong focus on industrial applications, including sectors like railways, power generation, defence, and welding equipment. On October 10, 2025, RIR Power Electronics was excluded from the ST-ASM Framework by the stock exchanges.
Dhanlaxmi Cotex Ltd
Dhanlaxmi Cotex Ltd. is a public limited company, established in 1987, that operates in finance and stock trading. It is promoted by the Dhanlaxmi Group and is listed on the Bombay Stock Exchange (BSE). The company’s core business activities include investments, trading in shares and securities, and providing financial services. On October 10, 2025, Dhanlaxmi Cotex was excluded from the ST-ASM Framework by the stock exchanges.
Parker Agrochem Exports Ltd
Parker Agrochem Exports Ltd. is primarily a liquid storage and trading company, operating the largest independent storage tank farm near Kandla Port in Gujarat, India. The company earns rental income from its storage facilities and also trades in various commodities, including agricultural products, metals, gold, and silver. On October 10, 2025, Parker Agrochem Exports was excluded from the ST-ASM Framework by the stock exchanges.
Criteria for Inclusion in ST-ASM
Stocks are selected for the Short-term Additional Surveillance Measure (ST-ASM) list based on objective, market-based parameters jointly defined by SEBI and the exchanges. The main criteria include:
The criteria for inclusion in the Short-term Additional Surveillance Measure (ST-ASM) are based on sudden abnormal price movements, sharp volume fluctuations, high client concentration, limited trader diversity, and volatility over a short period (typically 5 to 15 days). These parameters help exchanges identify stocks showing speculative or unusual trading activity for temporary, stricter monitoring.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
