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, Graded Surveillance Measure, Additional Surveillance
Measure Framework from time to time.
SEBI and Exchanges, pursuant to discussions in joint surveillance meetings,
have decided to revise the ASM framework introduced on March 21, 2018
and the revised ASM framework includes;
- Long Term ASM Framework
- Short Term ASM Framework
The criteria for shortlisting of securities for the aforementioned frameworks
and applicable surveillance actions are stated in Exchange notice no.20181027-1
dated October 27, 2018. The link to the said notice is given below..
Notice - Criteria
Long Term ASM framework update
Short Term ASM framework update
Additional Criteria - Short Term ASM
ASM framework is in conjunction with all other prevailing surveillance
measures being imposed by the Exchanges from time to time and as may be
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.
The list of such securities identified under Long term and Short Term
ASM Framework alongwith their respective stages shall be published on
time to time.
of Short Term ASM Securities
of Long Term ASM Securities
Applicable Beta for ASM Framework