SYNOPSIS: SEBI’s ASM framework has placed several defence, semiconductor, logistics, and other sector stocks under surveillance due to abnormal trading activity. Apollo Micro Systems and NIBE are in LT-ASM, while Shadowfax, IZMO, Aegis Logistics, and others are in ST-ASM, reflecting heightened volatility and investor caution requirements.
SEBI’s Additional Surveillance Measure (ASM) framework has put certain defence, semiconductor, logistics, and other sector stocks under monitoring due to unusual price movements, high volatility, or abnormal trading volumes. The aim is to curb speculative trading, protect investors, and ensure market stability by increasing scrutiny and margin requirements on such stocks.
Short-term Additional Surveillance
The Short-term Additional Surveillance Measure (ST ASM) is a regulatory framework by SEBI and Indian stock exchanges to monitor stocks exhibiting sudden, abnormal trading patterns. It aims to protect investors and maintain market integrity by imposing temporary, stricter trading conditions on such volatile or speculative securities.
Long-term Additional Surveillance
The Long-term Additional Surveillance Measure (LT ASM) is a regulatory framework introduced by SEBI and Indian stock exchanges to monitor and manage risks associated with stocks exhibiting persistent abnormal trading patterns. This framework is designed to protect investors and enhance market integrity by imposing stricter trading conditions on selected securities for an extended period. Here’s the list of stocks to look out for
Apollo Micro Systems Ltd
Apollo Micro Systems is an Indian defence electronics company based in Hyderabad. It designs and manufactures mission-critical systems for missiles, avionics, naval, and space applications. The company focuses on R&D-driven electronic and electromechanical solutions and supports India’s defence indigenization programs through DRDO and armed forces projects. On June 17th, the stock was included in the LT-ASM Framework by the stock exchanges.
NIBE Ltd
NIBE Ltd is an Indian engineering and defence-focused manufacturing company involved in precision components and systems. It operates in areas like defence equipment, mobility solutions, and engineering services. The company aims to grow through partnerships in defence production, capitalizing on India’s increasing focus on domestic manufacturing and self-reliance initiatives. On June 17th, the stock was included in the LT-ASM Framework by the stock exchanges.
Shadowfax Technologies Ltd
Shadowfax Technologies is a logistics and last-mile delivery company in India. It provides tech-enabled delivery services for e-commerce, hyperlocal, and quick commerce businesses. The company uses a gig-based network of delivery partners and focuses on fast, flexible, and scalable logistics solutions across urban and semi-urban markets. On June 17th, the stock was included in the LT-ASM Framework by the stock exchanges.
IZMO Ltd
IZMO Ltd is a digital automotive solutions company offering software, digital marketing, and 3D visualization services for the automotive industry. It helps OEMs and dealers with online car configurators, product visualization, and digital retail platforms, enhancing customer engagement and automotive e-commerce experiences globally. On June 17th, the stock was included in the ST-ASM Framework by the stock exchanges.
Aegis Logistics Ltd
Aegis Logistics Ltd is an Indian company engaged in oil, gas, and chemical logistics. It provides storage, handling, and distribution services for LPG, petroleum products, and chemicals. With terminal infrastructure and port-based operations, it plays a key role in the energy supply chain and bulk liquid logistics in India. On June 17th, the stock was included in the ST-ASM Framework by the stock exchanges.
IFCI Ltd
IFCI Ltd is one of India’s oldest development finance institutions, now operating as a government-backed financial services company. It provides project financing, advisory services, and investment support to the infrastructure and industrial sectors. Over time, it has diversified into financial restructuring and asset management-related activities. On June 17th, the stock was included in the ST-ASM Framework by the stock exchanges.
MSTC Ltd
MSTC Ltd is a government-owned trading company in India specializing in e-auctions and e-procurement services. It facilitates the sale of scrap, surplus materials, coal, and other commodities through digital platforms. The company supports transparent procurement and asset disposal for government and industrial clients. On June 17th, the stock was included in 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.
Criteria for Inclusion in LT ASM
Stocks are selected for the Long-term Additional Surveillance Measure (LT ASM) list based on objective criteria jointly defined by SEBI and the exchanges. These criteria include significant price swings (high-low and close-to-close variations over defined periods), abnormal trading volume fluctuations, high client concentration (such as the top 25 clients accounting for a large share of volume), differentiated market capitalization thresholds, low diversity among traders (few unique PANs), low delivery percentage, and extremely high or volatile price-earnings (PE) ratios.
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