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

Symbol Company Name
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