Description

BSE announces changes to Long Term Additional Surveillance Measure framework effective September 1, 2025, with securities moving in and out of various ASM stages.

Summary

BSE has announced changes to the Long Term Additional Surveillance Measure (LT-ASM) framework effective September 1, 2025. The circular details securities being newly included, moved between different ASM stages, and those being removed from the framework.

Key Points

  • 5 securities newly shortlisted for Long Term ASM Framework
  • 2 securities moved to higher ASM stages (Stage II and III)
  • 5 securities moved to lower ASM Stage I
  • 9 securities removed from Long Term ASM Framework
  • No securities directly moved to Stage IV

Regulatory Changes

  • Implementation of Long Term ASM Framework changes effective September 1, 2025
  • Securities classified into different surveillance stages based on risk assessment
  • Movement between stages based on compliance and trading patterns

Compliance Requirements

  • Securities under LT-ASM framework subject to additional surveillance measures
  • Enhanced monitoring and reporting requirements for affected securities
  • Stricter trading conditions and margin requirements may apply

Important Dates

  • September 1, 2025: Effective date for all LT-ASM framework changes

Impact Assessment

  • Trading Impact: Securities under higher ASM stages face stricter trading conditions
  • Liquidity Impact: Enhanced surveillance may affect trading volumes
  • Investor Impact: Retail and institutional investors need to be aware of surveillance status
  • Market Impact: Framework ensures better market integrity and investor protection

Securities Details

Newly Shortlisted (Part A)

  • Ashram Online.Com Ltd (526187)
  • Beryl Drugs Ltd (524606)
  • Brawn Biotech Ltd (530207)
  • CHPL Industries Ltd (539335)
  • Gorani Industries Ltd (531608)

Moved to Higher Stages (Part B)

  • Bharat Global Developers Ltd → Stage III
  • Cargosol Logistics Ltd → Stage II

Moved to Lower Stages (Part C)

  • Jeena Sikho Lifecare Ltd → Stage I
  • JSW Holdings Ltd → Stage I
  • Kitex Garments Ltd → Stage I
  • Stallion India Fluorochemicals Ltd → Stage I

Removed from Framework (Part D)

  • 9 securities including Garden Reach Shipbuilders, Associated Ceramics, and others
  • Removals due to inclusion in other frameworks (Trade for Trade, GSM, ESM, IBC)

Impact Justification

Affects multiple securities with trading restrictions under surveillance framework