Description

BSE announces securities being added to ESM framework and stage changes for existing securities effective August 26, 2025.

Summary

BSE has announced updates to its Enhanced Surveillance Measure (ESM) Framework effective August 26, 2025. Three new securities are being added to the ESM framework, while three existing securities will move to higher ESM stages. No securities are moving to lower stages or exiting the framework.

Key Points

  • 3 new securities added to ESM framework: Bangalore Fort Farms Ltd, Fredun Pharmaceuticals Ltd, and Fundviser Capital (India) Ltd
  • 3 securities moving to higher ESM stages: Bemco Hydraulics Ltd, Kesar Terminals & Infrastructure Ltd, and Praxis Home Retail Ltd
  • No securities moving to lower ESM stages or exiting the framework
  • Comprehensive consolidated list provided showing 29+ securities currently under various ESM stages
  • Framework includes both mainboard and SME securities

Regulatory Changes

The ESM framework continues BSE’s risk management approach by placing securities under enhanced monitoring based on price volatility, trading patterns, and other risk parameters. Securities under ESM face additional trading restrictions and monitoring.

Compliance Requirements

  • Trading members must ensure compliance with enhanced surveillance requirements for listed securities
  • Investors should be aware of additional trading restrictions on ESM securities
  • Market participants must follow stage-specific trading parameters and position limits

Important Dates

  • Effective Date: August 26, 2025 - All ESM framework changes become effective

Impact Assessment

The addition of new securities to ESM and stage escalations for existing securities will result in stricter trading conditions, potentially reduced liquidity, and enhanced monitoring requirements. This affects investor access and trading strategies for the impacted securities, while supporting market stability through increased oversight of volatile stocks.

Impact Justification

Affects trading conditions for multiple securities under enhanced surveillance with stage changes impacting liquidity and trading parameters