Description

BSE announces securities shortlisted for Long Term ASM Framework effective September 3, 2025, with 8 new securities added and 1 security moving out

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective September 3, 2025. Eight securities have been newly shortlisted for inclusion in the LT-ASM framework, while one security (Gorani Industries Ltd) is being removed due to its inclusion in the Enhanced Surveillance Measure (ESM) framework. The circular also provides a consolidated list of all securities currently under various ASM stages.

Key Points

  • 8 new securities added to Long Term ASM Framework
  • 1 security (Gorani Industries Ltd) removed from LT-ASM due to ESM inclusion
  • No securities moved to higher or lower ASM stages
  • Implementation effective from September 3, 2025
  • Securities marked with asterisk (*) are as per NSE listing

Regulatory Changes

The Long Term ASM framework is being updated with new securities identified based on surveillance criteria. Securities under this framework face enhanced surveillance measures including higher margin requirements, periodic review, and additional monitoring to address concerns related to price volatility and market integrity.

Compliance Requirements

  • Trading members must apply appropriate margins for securities under LT-ASM
  • Investors should be aware of additional surveillance measures on these securities
  • Brokers need to update their systems to reflect the new LT-ASM list
  • Enhanced due diligence required for transactions in these securities

Important Dates

  • Effective Date: September 3, 2025
  • Announcement Date: September 2, 2025

Impact Assessment

The inclusion of securities in the Long Term ASM framework will result in reduced liquidity and increased margin requirements for the affected stocks. This may lead to decreased trading volumes and potential price volatility. Investors holding these securities may face challenges in executing large orders. The removal of Gorani Industries from LT-ASM to ESM indicates an escalation in surveillance measures for that particular security.

Impact Justification

Long Term ASM framework imposes significant trading restrictions on listed securities, directly affecting liquidity and trading patterns