Description

BSE announces securities being added to, continuing in, or moving out of the Long Term Additional Surveillance Measure (LT-ASM) framework effective October 07, 2025.

Summary

BSE has published the updated list of securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective October 07, 2025. The circular identifies 8 securities being newly shortlisted in LT-ASM, 1 security (Axiscades Technologies Ltd) being placed directly in Stage IV, and 1 security (Shri Keshav Cements And Infra Ltd) moving out of the framework.

Key Points

  • 8 securities newly shortlisted in Long Term ASM Framework
  • No securities moving to higher or lower ASM stages within the framework
  • 1 security (Axiscades Technologies Ltd) directly placed in Stage IV as per notice 20210604-41
  • 1 security (Shri Keshav Cements And Infra Ltd) moving out of LT-ASM Framework
  • Consolidated list of securities across all ASM stages provided in Annexure III

Securities Added to LT-ASM (Effective October 07, 2025)

  1. Bacil Pharma Ltd (524516, INE711D01018)
  2. Espire Hospitality Limited (532016, INE176O01011)
  3. Hiliks Technologies Ltd (539697, INE966Q01010)
  4. Organic Coatings Ltd (531157, INE412E01011)
  5. Popular Estate Management Ltd (531870, INE370C01015)
  6. Sahara Housingfina Corporation Ltd (511533, INE135C01012)
  7. Sumeet Industries Ltd (514211, INE235C01036) - marked with asterisk indicating NSE designation
  8. True Green Bio Energy Ltd (533407, INE672K01025)

Securities Moving to Direct Stage IV

  • Axiscades Technologies Ltd (532395, INE555B01013) - moved to ASM Stage IV as per NSE designation

Securities Exiting LT-ASM Framework

  • Shri Keshav Cements And Infra Ltd (530977, INE260E01014)

Regulatory Changes

The Long Term ASM framework is a surveillance mechanism designed to alert investors about securities showing abnormal price movements or other risk characteristics. Securities placed under this framework are subject to additional trading restrictions and margin requirements to ensure market integrity.

Compliance Requirements

  • Investors and traders must be aware of enhanced surveillance measures applicable to these securities
  • Trading in LT-ASM securities may be subject to additional margin requirements
  • Price bands and other trading restrictions may apply as per ASM stage
  • Market participants should review the consolidated list in Annexure III for complete ASM coverage

Important Dates

  • Effective Date: October 07, 2025 - All changes to LT-ASM framework become applicable

Impact Assessment

The inclusion of securities in the LT-ASM framework indicates heightened surveillance and is intended to protect investors from excessive volatility. For the 8 newly added securities, investors can expect:

  • Increased margin requirements for trading
  • Potential liquidity constraints
  • Enhanced monitoring by the exchange
  • Additional disclosure requirements from listed companies

The exit of Shri Keshav Cements And Infra Ltd from the framework suggests improved compliance or market behavior. Axiscades Technologies Ltd being placed directly in Stage IV indicates significant surveillance concerns requiring immediate heightened oversight.

Impact Justification

Regular surveillance measure update affecting 8 new securities and 1 security moving out. Limited direct market impact but important for traders of affected stocks.