Securities and Exchange Board of India (SEBI) and Exchanges in order to enhance market integrity and safeguard interest of investors, have been introducing various enhanced pre-emptive surveillance measures such as reduction in price band, periodic call auction and transfer of securities to Trade to Trade category from time to time.
In continuation to various surveillance measures already implemented, SEBI and Exchanges, pursuant to discussions in joint surveillance meetings, have decided that along with the aforesaid measures there shall be Additional Surveillance Measures (ASM) on securities with surveillance concerns viz. Price variation, Volatility etc.
Accordingly, review for identification of securities for placing in ASM Framework has been carried out. Securities given in the Annexure shall move into ASM Framework w.e.f. Monday March 26, 2018.
The surveillance actions applicable for the shortlisted securities is as under:
a) Securities shall be placed in Price Band of 5%
b) Margins shall be levied at the rate of 100%
The shortlisted securities shall be further monitored on a pre-determined objective criteria and would be moved into Trade for Trade segment once the criteria gets satisfied. Market participants may note that ASM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time and as may be applicable.
Further, it may also be noted that 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.
In case any clarification required, please contact 2272 1717/2272 5091/ 2272 8497.
Rishikesh Tamaskar Yogendra Daxini
Deputy. General Manager Sr. Manager
March 21, 2018.