Description

BSE announces securities subject to Long Term Additional Surveillance Measure framework effective October 07, 2025, including 8 new securities in LT-ASM and 1 security moving out.

Summary

BSE has announced the updated list of securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective October 07, 2025. Eight securities have been newly shortlisted for LT-ASM, one security (Axiscades Technologies Ltd) has been directly placed in Stage IV LT-ASM, and one security (Shri Keshav Cements And Infra Ltd) is moving out of the framework.

Key Points

  • 8 securities newly shortlisted in Long Term ASM Framework: Bacil Pharma Ltd, Espire Hospitality Limited, Hiliks Technologies Ltd, Organic Coatings Ltd, Popular Estate Management Ltd, Sahara Housingfina Corporation Ltd, Sumeet Industries Ltd, and True Green Bio Energy Ltd
  • Axiscades Technologies Ltd directly placed in Stage IV Long Term ASM Framework
  • Shri Keshav Cements And Infra Ltd moving out of Long Term ASM Framework
  • No securities moving to higher or lower ASM stages within LT-ASM framework
  • Framework applies additional surveillance measures to securities exhibiting abnormal price movements or trading patterns

Regulatory Changes

The Long Term ASM framework is designed to alert investors about securities with unusual price movements and concentration of trading by a limited number of participants. Securities under LT-ASM are subject to:

  • Reduced price bands
  • Higher margin requirements
  • Trade-to-trade settlement
  • Additional disclosure requirements
  • Enhanced monitoring of trading activity

Compliance Requirements

  • Market participants must be aware of securities under LT-ASM framework
  • Brokers should inform clients about additional restrictions on affected securities
  • Increased margin requirements must be collected for trades in LT-ASM securities
  • Only delivery-based trading permitted (no intraday positions)
  • Additional surveillance and reporting obligations for exchanges

Important Dates

  • Effective Date: October 07, 2025 - Changes to LT-ASM framework take effect

Impact Assessment

Market Impact: Securities placed under LT-ASM typically experience reduced liquidity due to higher margins and trade-to-trade settlement requirements. This framework serves as an investor protection mechanism but can significantly impact trading volumes and price discovery.

Investor Impact: Traders and investors in affected securities will face increased capital requirements and inability to take intraday positions. The framework acts as a warning signal about potential price manipulation or excessive speculation.

Operational Impact: Brokers and trading members must update their systems to enforce LT-ASM restrictions including margin collection, position limits, and settlement requirements for the specified securities.

Impact Justification

Long Term ASM framework imposes significant trading restrictions on listed securities including reduced price bands and increased margin requirements, directly impacting liquidity and trading behavior for affected stocks.