Description

BSE circular announcing securities entering and exiting the Short Term Additional Surveillance Measure framework effective September 08, 2025.

Summary

BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective September 08, 2025. Two securities are being added to the ST-ASM framework, while ten securities are moving out due to their inclusion in other surveillance frameworks (LT-ASM, ESM, GSM, or Trade for Trade). The circular provides consolidated lists of all securities currently under ST-ASM with their respective stage classifications.

Key Points

  • 2 securities shortlisted for inclusion in Short Term 5/15/30 Days ASM Framework: Kairosoft AI Solutions Ltd and Moschip Technologies Ltd
  • 10 securities moving out of ST-ASM Framework, transitioning to other surveillance measures
  • No securities moving to higher or lower stages within the ST-ASM framework
  • Consolidated list includes securities across Stage I and Stage II classifications
  • Framework includes special markings for SME scrips (@), T+0 scrips (~), and NSE-aligned securities (*)

Regulatory Changes

Securities Entering ST-ASM (Effective September 08, 2025):

  1. Kairosoft AI Solutions Ltd (Scrip Code: 506122, ISIN: INE820M01018)
  2. Moschip Technologies Ltd (Scrip Code: 532407, ISIN: INE935B01025) - As per NSE

Securities Exiting ST-ASM Framework:

  • Moving to LT-ASM: Astron Paper & Board Mill Ltd
  • Moving to GSM: Parker Agrochem Exports Ltd
  • Moving to ESM: Coffee Day Enterprises Ltd, Sangal Papers Ltd, Shree Rama Multi-Tech Ltd, SPEL Semiconductor Ltd
  • SME Scrip exiting: Raghuvansh Agrofarms Ltd
  • Other exits: ADC India Communications Ltd, Affordable Robotic & Automation Ltd, Lactose India Ltd

Stage Classifications in Consolidated List:

  • Most securities listed at Stage I
  • Cropster Agro Ltd at Stage II
  • Partial data provided showing securities like Aeonx Digital Technology, Bharat Seats, Binny Mills, BKV Industries, BLT Logistics, Brightcom Group, and others under surveillance

Compliance Requirements

  • Trading members and market participants must be aware of securities under ST-ASM framework
  • Securities in ST-ASM are subject to additional surveillance measures including potential price bands, trade restrictions, or enhanced monitoring
  • Stage-based progression applies based on price movement patterns and volatility
  • Special handling required for marked securities: SME scrips (@), T+0 scrips (~), NSE-aligned (*)

Important Dates

  • Effective Date: September 08, 2025 - All changes to ST-ASM framework become applicable

Impact Assessment

Market Impact:

  • Securities entering ST-ASM will face enhanced surveillance, potentially affecting liquidity and trading volumes
  • Investors in these securities should expect additional monitoring and possible trading restrictions
  • Securities exiting ST-ASM are transitioning to other frameworks (LT-ASM, ESM, GSM) which may have different or stricter conditions

Operational Impact:

  • Brokers and trading members need to update their systems to reflect new ST-ASM classifications
  • Risk management systems should be adjusted for securities entering or exiting the framework
  • Investors holding affected securities should review their positions in light of the surveillance changes

Investor Considerations:

  • ST-ASM indicates heightened volatility or unusual price movements in these securities
  • Exit from ST-ASM to frameworks like ESM or GSM may indicate more serious concerns requiring stricter measures
  • Stage progression within ST-ASM reflects continued monitoring of price behavior

Impact Justification

Affects trading conditions for multiple securities through surveillance framework changes. Medium impact as ST-ASM applies additional monitoring but does not suspend trading.