Description
BSE updates Enhanced Surveillance Measure framework with securities moving into, within, and out of ESM stages effective September 2, 2025.
Summary
BSE has updated the Enhanced Surveillance Measure (ESM) framework effective September 2, 2025. Two new securities have been added to ESM Stage I: N2N Technologies Ltd and Titan Biotech Ltd. Additionally, two securities - Kuber Udyog Ltd and Tamilnadu Steel Tubes Ltd - will move to higher ESM stages. No securities are moving out of the ESM framework or to lower stages.
Key Points
- 2 new securities added to ESM Stage I framework
- 2 existing securities moved to higher ESM stages
- No securities removed from ESM framework
- No securities moved to lower ESM stages
- Framework includes consolidated list of all securities under ESM with their respective stages
Regulatory Changes
- Enhanced surveillance parameters will apply to newly added securities
- Stricter surveillance measures for securities moving to higher ESM stages
- Trading restrictions and additional disclosure requirements as per ESM framework
Compliance Requirements
- Listed companies under ESM must comply with enhanced disclosure norms
- Investors should be aware of additional surveillance measures affecting these securities
- Brokers must implement appropriate risk management for ESM securities
Important Dates
- Effective Date: September 2, 2025
- All ESM changes become applicable from market opening on this date
Impact Assessment
Market Impact: Medium - affects trading dynamics for specific securities under enhanced surveillance
Operational Impact: Securities under ESM face additional compliance burden and potential trading restrictions. Investors may experience reduced liquidity and increased volatility monitoring for these securities. The framework aims to protect investor interests while maintaining market integrity.
Impact Justification
Enhanced surveillance affects trading parameters and investor behavior for listed securities