Description

BSE updates Enhanced Surveillance Measure framework with new securities additions and stage modifications effective September 10, 2025.

Summary

BSE has announced updates to the Enhanced Surveillance Measure (ESM) framework effective September 10, 2025. Three new securities are being added to ESM, while five existing securities will move to higher ESM stages. No securities are moving to lower stages or exiting the framework.

Key Points

  • 3 new securities added to Enhanced Surveillance Measure framework
  • 5 securities moved to higher ESM stages for increased monitoring
  • No securities moving out of ESM framework in this update
  • Changes effective from September 10, 2025
  • Framework includes both main board and SME securities

Securities Added to ESM

New ESM Securities:

  • Apis India Ltd (Scrip Code: 506166)
  • Regency Fincorp Ltd (Scrip Code: 540175)
  • S.A.L. Steel Ltd (Scrip Code: 532604) - as per NSE

Moving to Higher ESM Stages:

  • Bizotic Commercial Ltd (SME Scrip) (Scrip Code: 543926)
  • Gagan Gases Ltd (Scrip Code: 524624)
  • Nutricircle Ltd (Scrip Code: 530219)
  • Oswal Overseas Ltd (Scrip Code: 531065)
  • Starcom Information Technology Ltd (Scrip Code: 531616)

Regulatory Changes

The Enhanced Surveillance Measure framework continues to monitor securities based on various risk parameters. Securities under ESM face additional trading restrictions and monitoring requirements based on their assigned stage (Stage I or Stage II).

Compliance Requirements

  • Investors trading in ESM securities must adhere to additional margin requirements
  • Enhanced disclosure requirements for companies under ESM
  • Stricter position limits and trading restrictions apply
  • Regular monitoring and reporting obligations for listed entities

Important Dates

  • Effective Date: September 10, 2025
  • All ESM framework changes become applicable from market opening on this date

Impact Assessment

The addition of new securities and stage upgrades indicates continued regulatory focus on market integrity. Investors in affected securities should expect:

  • Higher margin requirements
  • Increased volatility monitoring
  • Stricter trading conditions
  • Enhanced regulatory scrutiny of price movements

Impact Justification

Affects trading conditions for multiple securities under surveillance framework