Description

BSE updates Enhanced Surveillance Measure framework with new securities added and existing securities moved to different ESM stages effective August 6, 2025.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) framework effective August 6, 2025. Two new securities have been added to ESM Stage I, five existing securities will move to higher ESM stages, and no securities are moving out of the framework. The consolidated list shows 28 securities currently under various ESM stages.

Key Points

  • 2 new securities added to ESM framework: Kizi Apparels Ltd and SDC Techmedia Ltd
  • 5 securities moving to higher ESM stages including Bisil Plast Ltd, Dharan Infra-EPC Ltd, Gujarat Natural Resources Ltd, Viji Finance Ltd, and Vineet Laboratories Ltd
  • No securities moving to lower ESM stages or exiting the framework
  • Total of 28 securities remain under ESM with various stage classifications
  • Changes effective from August 6, 2025

Regulatory Changes

Enhanced surveillance measures impose additional trading restrictions and monitoring on selected securities based on price movements, volume patterns, and other risk parameters. Securities under ESM face specific trading conditions including price bands and position limits.

Compliance Requirements

  • Market participants must adhere to ESM-specific trading rules for listed securities
  • Enhanced disclosure and monitoring requirements apply to ESM securities
  • Position limits and price band restrictions must be observed
  • Brokers must ensure compliance with ESM trading conditions

Important Dates

  • Effective Date: August 6, 2025 - All ESM changes become applicable

Impact Assessment

The addition of new securities and stage upgrades indicate continued market surveillance efforts. Securities under higher ESM stages face stricter trading conditions which may impact liquidity and trading volumes. Investors in affected securities should be aware of enhanced restrictions and monitoring measures.

Impact Justification

Regular surveillance measure updates affecting trading conditions for specific securities