Description

BSE announces securities being placed under Short Term ASM framework and those moving out, effective September 3, 2025

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective September 3, 2025. The circular identifies 13 securities being newly placed under ST-ASM, 1 security moving to a higher stage, and 8 securities exiting the framework due to various reasons including inclusion in other surveillance frameworks.

Key Points

  • 13 securities newly shortlisted for ST-ASM framework including Centenial Surgical Suture Ltd, CL Educate Ltd, and UTL Industries Ltd
  • Kaushalya Infrastructure Development Corporation Ltd will continue in ST-ASM but move to a higher stage
  • 8 securities moving out of ST-ASM framework, including KIOCL Ltd and Scan Projects Ltd
  • Securities marked with (*) indicate NSE alignment
  • Some securities exit ST-ASM due to inclusion in other frameworks (LT-ASM, ESM)

Regulatory Changes

The ST-ASM framework applies enhanced surveillance measures including:

  • Stage-wise restrictions on trading activity
  • Increased margin requirements
  • Periodic review every 5/15/30 days based on market behavior
  • Coordinated action between BSE and NSE for securities traded on both exchanges

Compliance Requirements

  • Brokers must apply appropriate margins for securities under ST-ASM
  • Trading members need to monitor client positions in these securities
  • Investors should be aware of additional margin requirements and potential trading restrictions
  • Regular monitoring of stage changes and framework movements

Important Dates

  • Effective Date: September 3, 2025
  • Review Period: Every 5/15/30 days for securities under ST-ASM
  • Continuous monitoring for stage adjustments

Impact Assessment

The ST-ASM framework impacts liquidity and trading costs for affected securities. Securities under surveillance face higher margin requirements which may reduce speculative trading. Movement between stages or exit from the framework signals changing risk assessment by the exchange. Investors holding these securities should expect increased volatility controls and potential trading restrictions.

Impact Justification

ST-ASM framework imposes trading restrictions on selected securities to manage volatility and protect investors