DCM Shriram and 6 Other Stocks in Focus After Companies Are Excluded from ASM Framework

Synopsis: Several Indian stocks, including DCM Shriram, Jindal Drilling, Shankara Buildpro, and others, were recently removed from the SEBI Short-term Additional Surveillance Measure (ST-ASM) framework after reviews found they no longer exhibited unusual trading activity.

The Short-term Additional Surveillance Measure (ST-ASM) is a regulatory mechanism introduced by SEBI and Indian stock exchanges to closely monitor stocks that exhibit unusual or sudden trading activity. Its primary goal is to safeguard investors and uphold market stability by applying temporary, tighter trading restrictions on highly volatile or speculative stocks.

Criteria for Inclusion & Exclusion in ST-ASM

Stocks are placed under the Short-term Additional Surveillance Measure (ST-ASM) based on sudden abnormal price movements, sharp volume changes, high client concentration, limited trader diversity, and short-term volatility (typically over 5–15 trading days). These factors help exchanges identify stocks with unusual or speculative trading activity for closer, temporary monitoring.

A stock may be removed from ST-ASM if it no longer meets the inclusion criteria. After completing a minimum period (5–15 trading days), the stock is reviewed stage-wise; it may move to a lower stage or, if in Stage I, be fully exited. Continuous monitoring ensures that only stocks with recent abnormal trading patterns remain under ST-ASM. Here is the list of stocks that have been recently excluded from the ST-ASM Framework:

Hindustan Oil Exploration Company Ltd

Hindustan Oil Exploration Company Ltd (HOEC) is an Indian upstream oil and gas exploration and production company. It focuses on exploring hydrocarbon assets, primarily offshore in India, participating in exploration blocks, drilling wells, and producing crude oil and natural gas. On March 18, the company was excluded from the ST-ASM Framework by the stock exchanges.

Jindal Drilling Ltd

Jindal Drilling & Industries Limited is part of the D.P. Jindal Group and a leading drilling services company in India’s oil and gas sector. Incorporated in 1983, it provides offshore and onshore drilling, horizontal and directional drilling, and mud logging services to exploration and production companies, including major clients like ONGC and others. On March 18, the company was excluded from the ST-ASM Framework by the stock exchanges.

DCM Shriram International Ltd

DCM Shriram International Ltd (DCMSIL) is an Indian public company, incorporated in 2022, that spun off from DCM Shriram Industries Ltd. It specializes in the manufacturing of rayon, nylon, industrial yarns, and fabrics, while also acting as a platform for global trade and engineering. It is part of the broader, diversified DCM Shriram Industries group. On March 18, the company was excluded from the ST-ASM Framework by the stock exchanges.

Shankara Buildpro Ltd

Shankara Buildpro Limited is an Indian retail and distribution company focused on building materials and home improvement products. It operates an omnichannel business selling construction materials, steel products, plumbing fittings, fixtures, tiles, electrical goods and related items through a widespread retail and online network. On March 18, the company was excluded from the ST-ASM Framework by the stock exchanges.

Ujaas Energy Ltd

Ujaas Energy Limited is an Indian renewable energy and power solutions company. It manufactures transformers and has expanded into solar power generation, engineering, procurement, and construction (EPC) of solar projects, operations and maintenance services, and other clean energy solutions. On March 17, the company was excluded from the ST-ASM Framework by the stock exchanges.

Apex Frozen Foods Ltd

Apex Frozen Foods Limited engages in aquaculture farming, processing, and export of shrimp products. Based in Kakinada, Andhra Pradesh, it supplies a variety of shrimp categories, including whole and peeled, cooked and seasoned products, under brands like Bay Fresh and Bay Premium to global markets such as the US, EU, and China, as well as to domestic customers. On March 16, the company was excluded from the ST-ASM Framework by the stock exchanges.

GNG Electronics Ltd

GNG Electronics Limited is an Indian technology company specialising in refurbishing laptops, desktops, tablets, servers, and other ICT (Information and Communication Technology) devices. Operating under the brand Electronics Bazaar, it manages the full refurbishment value chain, from sourcing used equipment to repair, resale, after‑sales support, warranty services, and IT asset disposal (ITAD). On March 16, the company was excluded from the ST-ASM Framework by the stock exchanges.

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