Description

BSE announces changes to Enhanced Surveillance Measure framework with securities moving in, out, and between stages effective September 10, 2025.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) Framework effective September 10, 2025. Three new securities are being included in ESM, five securities are moving to higher ESM stages, and no securities are moving to lower stages or exiting the framework.

Key Points

  • 3 securities newly added to ESM Framework: Apis India Ltd, Regency Fincorp Ltd, and S.A.L. Steel Ltd
  • 5 securities moving to higher ESM stages: Bizotic Commercial Ltd, Gagan Gases Ltd, Nutricircle Ltd, Oswal Overseas Ltd, and Starcom Information Technology Ltd
  • No securities moving to lower ESM stages or exiting the framework
  • Comprehensive consolidated list provided showing all securities under ESM with their respective stages
  • Framework includes both regular and SME scrips

Regulatory Changes

The ESM framework continues BSE’s risk management approach by categorizing securities into different surveillance stages based on their risk profile and market behavior. Securities under ESM are subject to additional monitoring and trading restrictions.

Compliance Requirements

  • Market participants must be aware of ESM classifications when trading affected securities
  • Enhanced surveillance measures may include additional margin requirements, position limits, or other trading restrictions
  • Investors should exercise additional caution when dealing with ESM securities

Important Dates

  • Effective Date: September 10, 2025 - All ESM changes become applicable

Impact Assessment

The inclusion of new securities and movement to higher ESM stages indicates heightened regulatory scrutiny for these stocks. This may result in reduced liquidity, higher trading costs, and increased volatility for the affected securities. Market participants should adjust their trading strategies accordingly and exercise enhanced due diligence.

Impact Justification

Affects multiple securities with enhanced surveillance measures that impact trading conditions