I was thinking if ASM list tells anything about quality of management? Does it say anything about financials?
Securities in ASM is checked after 2 months. If all criteria discussed does not meet then it will be out of ASM list.
My study confirms that financials and promoters quality is not included under ASM list. ASM list is totally based on market movement of securities.
So, overall you can think securities behavior under ASM may be jerky. I was invested in Indian Metals and Ferro Alloys and it was very jerky. Many days it showed me 5% gain during market hours but next I used to find no gain.
At this COVID time, think little more before investing in ASM stocks as market won't give value to these stocks so soon.