Description

BSE updates the list of securities under Short Term Additional Surveillance Measure framework with additions, removals, and stage changes effective July 31, 2025.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective July 31, 2025. The update includes 3 new securities being added to ST-ASM, 1 security moving to higher stage ASM, 8 securities moving out of ST-ASM framework, and a consolidated list of all securities currently under ST-ASM with their respective stages.

Key Points

  • 3 new securities added to Short Term 5/15/30 Days ASM Framework: Benara Bearings and Pistons Ltd, Hind Rectifiers Ltd, and Optimus Finance Ltd
  • Vashu Bhagnani Industries Ltd continues in ST-ASM but moves to higher stage ASM
  • 8 securities are moving out of ST-ASM framework, with some moving to other surveillance frameworks (LT-ASM, etc.)
  • Consolidated list shows 14+ securities currently under ST-ASM in Stage I
  • Framework includes both main board and SME scrips
  • Changes are coordinated with NSE where applicable

Regulatory Changes

  • Updated criteria for Short Term Additional Surveillance Measure application
  • Securities can move between different surveillance frameworks (ST-ASM, LT-ASM, GSM, ESM, Trade for Trade)
  • Stage-based progression system within ST-ASM framework
  • Special marking system for different types of securities (SME scrips marked with @, T+0 scrips marked with ~)

Compliance Requirements

  • Trading members must comply with enhanced surveillance measures for listed securities
  • Additional margin requirements and position limits may apply
  • Enhanced reporting and monitoring requirements for securities under ST-ASM
  • Market participants must be aware of stage classifications for risk management

Important Dates

  • July 31, 2025: Effective date for all ST-ASM framework changes
  • All additions, removals, and stage changes become applicable from this date

Impact Assessment

  • Trading Impact: Securities under ST-ASM face enhanced surveillance which may affect liquidity and trading patterns
  • Market Participants: Traders and investors need to adjust strategies for securities under different ASM stages
  • Risk Management: Enhanced monitoring requirements may impact operational procedures for brokers and market makers
  • Compliance Cost: Additional surveillance measures may increase compliance and operational costs for market intermediaries
  • Price Discovery: Surveillance measures may influence price movements and volatility in affected securities

Impact Justification

Affects trading conditions for multiple securities through surveillance measures, impacting market participants and liquidity