Hindustan Copper, ASM Tech and 3 Other Stocks Recently Included in LT-ASM Framework

Synopsis: The Long-Term Additional Surveillance Measure (LT ASM) monitors stocks with abnormal trading patterns, imposing stricter rules in stages I–IV. Recently, Hindustan Copper, Sancode Technologies, and ASM Technologies joined Stage I; AXISCADES Technologies joined Stage II; NACL Industries joined Stage III, aiming to protect investors and ensure market integrity.

The Long-term Additional Surveillance Measure (LT ASM) is a regulatory framework introduced by SEBI and Indian stock exchanges to monitor and manage risks in stocks that exhibit continuous abnormal trading patterns. This framework is designed to protect investors and enhance market integrity by imposing stricter trading conditions on selected securities for an extended period.

Criteria for Inclusion in LT ASM

Stocks are selected for the Long-term Additional Surveillance Measure (LT ASM) list based on objective criteria jointly defined by SEBI and the exchanges. These criteria include significant price swings (high-low and close-to-close variations over defined periods), abnormal trading volume fluctuations, high client concentration (such as the top 25 clients accounting for a large share of volume), differentiated market capitalization thresholds, low diversity among traders (few unique PANs), low delivery percentage, and extremely high or volatile price-earnings (PE) ratios.

Stages of LT ASM

LT ASM (Long-Term Additional Surveillance Measure) is applied in steps. As a stock moves through each step, trading restrictions become stricter to help control unusual price movements or speculation.

• Stage I: 100% margin requirement from T+3 days; price band may be reduced.
• Stage II: Further reduction in price band; continued 100% margin.
• Stage III: Additional price band reduction; continued 100% margin.
• Stage IV: Settlement on a gross basis (trade-to-trade), 100% margin, and a restrictive price band (e.g., 5%). For derivative stocks, new contracts are not issued, and existing contracts are settled as per expiry.

Here is the list of stocks that have been shortlisted in the Long-Term ASM Framework

Hindustan Copper Limited

Hindustan Copper Limited (HCL) is a Government of India–owned public sector enterprise under the Ministry of Mines and is the country’s only vertically integrated copper producer. Established in 1967, the company is engaged in the exploration, mining, beneficiation, smelting, refining, and casting of copper metal, with operations and projects spread across states like Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra, and Andhra Pradesh. On January 29th, 2026, the company was included in the LT-ASM stage I Framework by the stock exchanges.

Sancode Technologies Ltd

Sancode Technologies Ltd is an Indian software and technology company that develops and delivers a wide range of digital solutions to help businesses adopt advanced technologies. It operates an API-enabled platform and offers systems and application software, cloud migration, robotic process automation (RPA), machine learning (ML), artificial intelligence (AI), workflow automation, digital transformation, data analytics, Web3/metaverse, and system integration services to corporate clients across industries. On January 27th, 2026, the company was included in the LT-ASM stage I Framework by the stock exchanges.

ASM Technologies Ltd

ASM Technologies Ltd provides engineering services, consulting, and product research & development (R&D) to a global clientele, with delivery and support centers across India, the USA, UK, Singapore, Canada, Mexico, and Japan. The company’s expertise spans engineering design, product development, embedded systems, system software, IoT, and digital solutions. On January 27th, 2026, the company was included in the LT-ASM stage I Framework by the stock exchanges.

NACL Industries Ltd

NACL Industries Ltd is a well‑established Indian agrochemical company primarily focused on crop protection solutions. It manufactures both technical-grade active ingredients and formulated products such as pesticides, insecticides, herbicides, fungicides, and plant growth regulators for the agricultural sector. The company has a strong domestic presence with a large dealer network across India and exports to many countries. On January 23th, 2026, the company was included in the LT-ASM stage III Framework by the stock exchanges.

AXISCADES Technologies Ltd

AXISCADES Technologies Ltd is a leading Bangalore-based, publicly listed engineering and technology solutions company specializing in aerospace, defense, and ESAI (Electronics, Semiconductor, and Artificial Intelligence). With over many engineers across India, Europe, and the USA, the company supports global OEMs through the entire product lifecycle—from concept design to manufacturing and after-market support. On January 23th, 2026, the company was included in the LT-ASM stage II Framework by the stock exchanges.

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