On Friday, 23rd September 2022, the NSE issued a circular, wherein, a list of securities has been excluded from the Additional Surveillance Measure (ASM) List w.e.f. September 26th, 2022. Stocks such as Adani Wilmar (AWL), Ansal Properties & Infrastructure Limited (ANSALAPI), Asian Hotels (East) Limited (AHLEAST), Future Consumer Limited (FCONSUMER), and many more stocks are part of this list.
Adani Wilmar Limited is an India-based food fast-moving consumer goods (FMCG) company offering primary kitchen commodities. It is engaged in the manufacturing of edible oil, wheat flour, rice, pulses, and sugar. The company also owns the popular brand Fortune, which is the largest selling edible oil brand in India. Shares of Adani Wilmar were listed on the stock exchange in February 2022 and at the end of September 2022, it gives a return of 256% in 8 months. The shares of Adani Wilmar were also put in the ASM List which was later excluded.
The Securities of the companies are placed in the ASM List based on objective parameters like price/ volume variation, volatility, client concentration, market capitalization, delivery percentage, price-to-earnings ratio, and the number of unique PANs. The main objective of putting these shares on the ASM list is to make investors cautious and alert them while dealing with such stocks. The shortlisting of securities under ASM is purely for the purpose of market surveillance and it should not be construed as an adverse action against the concerned company/ entity.
There are 2 types of ASM i.e., Long-Term and Short-Term Additional Surveillance Measures. Securities which have completed 90 trading days in the long-term ASM shall be liable to exit the list. There are 4 stages i., Stages I, II, III, & IV in which stocks are categorized and actions are taken according to the same.
list of Companies excluded from ASM list
|BCONCEPTS||Brand Concepts Limited|
|ANSALAPI||Ansal Properties & Infrastructure Limited|
|SERVOTECH||Servotech Power Systems Limited|
|MAHAPEXLTD||Maha Rashtra Apex Corporation Limited|
|SAMBHAAV||Sambhaav Media Limited|
|FCONSUMER||Future Consumer Limited|
|SHRADHA||Shradha Infraprojects Limited|
|KARMAENG||Karma Energy Limited|
|ARROWGREEN||Arrow Greentech Limited|
|LGBFORGE||LGB Forge Limited|
|MITCON||MITCON Consultancy & Engineering Services Limited|
|AHLEAST||Asian Hotels (East) Limited|
|CANTABIL||Cantabil Retail India Limited|
|AWL||Adani Wilmar Limited|
|SADBHAV||Sadbhav Engineering Limited|
|DHAMPURSUG||Dhampur Sugar Mills Limited|
|SOLARA||Solara Active Pharma Sciences Limited|
|GODHA||Godha Cabcon & Insulation Limited|
|SOUTHWEST||South West Pinnacle Exploration Limited|
|SITINET||Siti Networks Limited|
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— Poornima Gupta