Description

BSE updates Enhanced Surveillance Measure framework with new securities additions and stage movements effective August 13, 2025.

Summary

BSE has updated its Enhanced Surveillance Measure (ESM) framework effective August 13, 2025, adding 6 new securities to the surveillance list and moving 9 existing securities to higher ESM stages. The framework is designed to monitor securities with unusual price movements or trading patterns.

Key Points

  • 6 securities newly shortlisted for ESM framework including Genesis Ibrc India Ltd, Golden Legand Leasing & Finance Ltd, and Hi-Klass Trading and Investment Ltd
  • 9 securities moved to higher ESM stages including Auto Pins (India) Ltd, Esha Media Research Ltd, and Espire Hospitality Limited
  • No securities moved to lower ESM stages
  • No securities removed from ESM framework
  • Mirc Electronics Ltd marked as per NSE coordination
  • Multiple SME scrips included in the updates

Regulatory Changes

Implementation of Enhanced Surveillance Measure framework changes with three categories:

  • New securities entering ESM framework
  • Securities moving to higher surveillance stages
  • Consolidated list showing all securities under ESM with their respective stages

Compliance Requirements

  • Trading members must comply with ESM framework requirements for listed securities
  • Enhanced monitoring and reporting obligations for securities under surveillance
  • Adherence to specific trading conditions and margin requirements as applicable

Important Dates

  • Effective Date: August 13, 2025 - All ESM framework changes come into effect

Impact Assessment

The updates will result in enhanced surveillance for 15 securities, potentially affecting their trading liquidity and investor participation. Securities under ESM typically face additional margin requirements and monitoring, which may impact price discovery and trading volumes. The inclusion of both mainboard and SME securities indicates broad market surveillance coverage.

Impact Justification

Affects trading conditions for multiple securities under surveillance framework