Synopsis: Eight stocks were placed under the ASM framework for enhanced surveillance. Go Fashion, Kwality Walls India, Panacea Biotec, and Savita Oil Technologies were added to the Short-Term ASM list, while Cemindia Projects, Paramount Communications, Fujiyama Power Systems, and Websol Energy System were included in the Long-Term ASM framework.
Additional Surveillance Measure (ASM) is a regulatory framework implemented by SEBI and stock exchanges such as NSE and BSE to closely monitor stocks exhibiting unusual price movements, high volatility, or speculative trading activity.
The objective of ASM is to enhance market integrity and protect investors by imposing measures such as higher margin requirements and increased surveillance. Placement under ASM does not indicate any issue with a company’s fundamentals; it simply reflects the need for closer monitoring of trading patterns.
Short-term Additional Surveillance Measure (ST ASM)
Short-term Additional Surveillance Measure (ST ASM) is a mechanism introduced by SEBI and stock exchanges to monitor stocks exhibiting unusual price movements or trading activity. Under this framework, temporary trading restrictions are imposed on highly volatile or speculative stocks to protect investors and maintain market integrity.
Criteria for Inclusion in ST ASM
Stocks are placed under the Short-term Additional Surveillance Measure (ST ASM) framework based on objective criteria designed to identify unusual or speculative trading activity.
Key factors include sharp price movements, significant changes in trading volumes, high client concentration, limited trader participation, and elevated short-term volatility, typically assessed over a period of 5 to 15 trading days. Securities meeting these criteria are subjected to enhanced surveillance and temporary trading restrictions to safeguard investors and maintain orderly market conditions.
Here is the list of stocks that have been shortlisted in the Short-Term ASM Framework:
Go Fashion (India) Limited
With a market capitalization of Rs. 2,284.51 crore, the shares of Go Fashion (India) Limited were currently trading at Rs. 434.35 per equity share. On June 5th, Go Fashion (India) was included in the ST-ASM Framework stage 1 by the stock exchanges.
Go Fashion (India) Limited is a publicly listed apparel company based in Chennai, Tamil Nadu, specializing in women’s and girls’ bottom-wear under the brand Go Colors. Founded in 2010, it is among India’s leading branded players in the women’s wear segment, known for its extensive product range and pan-India retail presence.
Kwality Walls India Limited
With a market capitalization of Rs. 7,840.59 crore, the shares of Kwality Walls India Limited were currently trading at Rs. 33.37 per equity share. On June 5th, Kwality Walls India was included in the ST-ASM Framework stage 1 by the stock exchanges.
Kwality Wall’s India Limited is an Indian ice-cream manufacturing and distribution company headquartered in Mumbai, Maharashtra. It produces and sells a wide range of frozen desserts under well-known brands such as Cornetto, Feast, and Magnum, serving millions of consumers across the country.
Panacea Biotec Limited
With a market capitalization of Rs. 3,363.28 crore, the shares of Panacea Biotec Limited were currently trading at Rs. 549.10 per equity share. On June 5th, Panacea Biotec was included in the ST-ASM Framework stage 1 by the stock exchanges.
Panacea Biotec Limited is an Indian biotechnology and pharmaceutical company specializing in the research, development, and manufacture of vaccines, pharmaceuticals, and nutraceuticals. Founded in 1984, it is recognized for its innovations in vaccine technology and contributions to global immunization programs.
Savita Oil Technologies Limited
With a market capitalization of Rs. 3,772.88 crore, the shares of Savita Oil Technologies Limited were currently trading at Rs. 550.30 per equity share. On June 5th, Savita Oil Technologies was included in the ST-ASM Framework stage 1 by the stock exchanges.
Savita Oil Technologies Limited is an Indian public company in the petroleum specialties and lubricants sector, headquartered in Mumbai, Maharashtra. It produces transformer oils, white oils, lubricants and engine oils, and has also diversified into certain renewable energy activities. The company is known for its niche specialty products and OEM partnerships in the Indian automotive and power sectors.
Long-term Additional Surveillance Measure (LT ASM):
The Long-term Additional Surveillance Measure (LT ASM) is a framework introduced by SEBI and Indian stock exchanges to monitor stocks showing persistent abnormal trading activity. It aims to protect investors and maintain market integrity by imposing enhanced surveillance and stricter trading conditions on selected securities over an extended period.
Criteria for Inclusion in LT ASM
Stocks are included in the Long-term Additional Surveillance Measure (LT ASM) framework based on objective criteria jointly prescribed by SEBI and stock exchanges.
These criteria include significant price volatility (both high-low and close-to-close movements over specified periods), unusual trading volume fluctuations, high client concentration, market capitalization thresholds, limited investor participation (low number of unique PANs), low delivery percentages, and unusually high or volatile price-to-earnings (PE) ratios. The framework aims to identify securities exhibiting sustained abnormal trading patterns and subject them to enhanced surveillance measures.
Here is the list of stocks that have been shortlisted in the Long-Term ASM Framework:
Cemindia Projects Limited
With a market capitalization of Rs. 19,209.29 crore, the shares of Cemindia Projects Limited were currently trading at Rs. 1,118.20 per equity share. On June 5th, Cemindia Projects was included in the LT-ASM Framework stage 1 by the stock exchanges.
Cemindia Projects Limited is an Indian infrastructure company involved in the construction and operation of road and highway projects. It is known for its role in developing toll-based highway concessions under public–private partnership (PPP) frameworks across India. The company contributes to the country’s transportation network through large-scale engineering and infrastructure initiatives.
Paramount Communications Limited
With a market capitalization of Rs. 2,004.92 crore, the shares of Paramount Communications Limited were currently trading at Rs. 65.69 per equity share. On June 5th, Paramount Communications was included in the LT-ASM Framework stage 1 by the stock exchanges.
Paramount Communications Limited is an Indian manufacturing company specializing in electrical and telecommunications cables. Established in 1955 and headquartered in New Delhi, it forms part of the Paramount Cables Group, a major player in India’s wire and cable industry serving power, infrastructure, and industrial sectors.
Fujiyama Power Systems Limited
With a market capitalization of Rs. 9,989.65 crore, the shares of Fujiyama Power Systems Limited were currently trading at Rs. 327 per equity share. On June 5th, Fujiyama Power Systems was included in the LT-ASM Framework stage 1 by the stock exchanges.
Fujiyama Power Systems Limited is an Indian renewable energy and power-backup company focused on rooftop solar systems and related equipment. It manufactures solar panels, inverters, and batteries and operates under the brands UTL Solar and Fujiyama Solar, serving residential, commercial, and industrial customers across India.
Websol Energy System Limited
With a market capitalization of Rs. 4,615.16 crore, the shares of Websol Energy System Limited were currently trading at Rs. 106.30 per equity share. On June 5th, Websol Energy System was included in the LT-ASM Framework stage 1 by the stock exchanges.
Websol Energy System Limited is an Indian publicly listed solar manufacturing company focused on photovoltaic (PV) crystalline solar cells and modules. It is considered one of the early domestic manufacturers supporting India’s renewable energy and solar capacity build-out.
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