This is further to the Exchange Notice no. 20180321-46 dated March 21, 2018 & Notice no. 20180322-14 dated March 22, 2018 on Additional Surveillance Measure (ASM).
Pursuant to the review jointly conducted by SEBI and the Exchanges, further update on ASM which shall be effective from May 14, 2018 is as below:
Shortlisting of securities for placing in ASM is based on an objective criteria covering following parameters -
a. High Low Variation
b. Client Concentration
c. No. of Price Band Hits
d. Close to Close Price Variation
e. PE Ratio
The aforementioned criteria is dynamic in nature and subject to change from time to time.
The surveillance actions applicable for the shortlisted securities are as under:
a) Securities shall be placed in Price Band of 5%
b) Margins shall be levied at the rate of 100%
The securities which are placed under ASM shall be reviewed on bimonthly basis for the applicability of ASM.
It may be noted that ASM shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time and as may be applicable.
The shortlisting of securities under ASM is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company /entity.
For ready reference, list of securities, including the securities shortlisted today, under the updated ASM is attached as Annexure.
In case any clarification required, please contact 2272 5158 /1717/8497.
Usha Sharma Rishikesh Tamaskar
Additional General Manager Deputy. General Manager
Surveillance Surveillance
May 11, 2018.
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