The National Stock Exchange of India has updated its Enhanced Surveillance Measure framework effective May 14, 2026, adding four securities freshly to Stage I, escalating one stock from Stage I to the stricter Stage II, and maintaining a consolidated list of 258 securities across both stages.
Which stocks were newly added to NSE ESM Stage I on May 14?
Four securities have been freshly inducted into ESM Stage I with effect from May 14, 2026. These are Bombay Super Hybrid Seeds Limited (BSHSL), Chemfab Alkalis Limited (CHEMFAB), Latteys Industries Limited (LATTEYS), and Niraj Cement Structurals Limited (NIRAJ). A fifth addition — Prime Cable Industries Limited (PRIMECAB) — also joins Stage I. All five stocks marked with an asterisk will move from the EQ or SM segment to the BE or ST trade-to-trade settlement segment with effect from May 15, 2026, requiring buyers and sellers to settle each transaction on a gross basis without netting.
Which stock was escalated to ESM Stage II?
Empower India Limited (EMPOWER) has been moved from Stage I to Stage II of the ESM framework effective May 14, 2026 — the stricter surveillance tier that imposes additional trading restrictions and tighter circuit filters.
No stock has been moved from Stage II back to Stage I, and no security has been excluded from the ESM framework in this update.
Consolidated ESM list as of May 14, 2026
The consolidated ESM list now covers 258 securities — 34 in Stage II and 224 in Stage I — an expansion from the previous update reflecting the net additions across both stages.
What is the NSE ESM framework?
The Enhanced Surveillance Measure framework is a joint initiative by NSE, BSE, and SEBI to identify and flag stocks exhibiting abnormal price or volume behaviour. Stocks under ESM face tighter price bands, mandatory trade-to-trade settlement in certain cases, and enhanced disclosure requirements. Stage II represents a higher level of regulatory concern than Stage I, with correspondingly stricter trading restrictions aimed at protecting retail investors from potential manipulation or excessive speculation.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult a registered financial advisor before making any investment decisions. Business Upturn does not hold any position in the securities mentioned.