Description

BSE circular detailing securities being added to, moved within, or removed from the Long Term Additional Surveillance Measure framework effective October 10, 2025.

Summary

BSE has updated the list of securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective October 10, 2025. Three securities have been newly shortlisted for LT-ASM, while one security (Mcleod Russel India Ltd) is being moved out due to inclusion in the ESM Framework. No securities are being moved to higher or lower ASM stages within the LT-ASM framework.

Key Points

  • Three securities newly shortlisted in LT-ASM Framework: Epuja Spiritech Ltd (532092), Gayatri Sugars Ltd (532183), and Vuenow Infratech Ltd (531997)
  • Mcleod Russel India Ltd (532654) moved out of LT-ASM Framework due to inclusion in ESM Framework
  • No securities moved to higher or lower ASM stages within LT-ASM
  • No securities shortlisted for direct Stage IV LT-ASM Framework
  • Consolidated list includes securities across various ASM stages with detailed scrip codes and ISINs

Regulatory Changes

The Long Term ASM Framework continues to operate as a surveillance mechanism for securities exhibiting certain risk characteristics. Securities under this framework are subject to enhanced monitoring and specific trading restrictions to protect investor interests.

Compliance Requirements

  • Market participants must be aware of securities under LT-ASM Framework
  • Trading in these securities subject to additional surveillance measures
  • Investors should exercise caution when trading securities under LT-ASM
  • Broker-dealers must comply with applicable surveillance and reporting requirements for these securities

Important Dates

  • Effective Date: October 10, 2025 - Changes to LT-ASM Framework take effect

Impact Assessment

Market Impact: Medium - The addition of three securities to LT-ASM and removal of one security affects trading conditions for these specific stocks. Securities under LT-ASM face enhanced surveillance which may impact liquidity and trading volumes.

Investor Impact: Investors holding or trading the newly added securities (Epuja Spiritech Ltd, Gayatri Sugars Ltd, Vuenow Infratech Ltd) will face additional surveillance measures. Investors in Mcleod Russel India Ltd will see the stock transition from LT-ASM to ESM Framework, potentially facing different surveillance criteria.

Operational Impact: Market participants must update their systems and risk frameworks to reflect the updated LT-ASM list and apply appropriate surveillance measures to these securities.

Affected Securities

Part A - Newly Shortlisted in LT-ASM (Effective October 10, 2025)

  1. Epuja Spiritech Ltd (Scrip Code: 532092, ISIN: INE807D01030)
  2. Gayatri Sugars Ltd (Scrip Code: 532183, ISIN: INE622E01023)
  3. Vuenow Infratech Ltd (Scrip Code: 531997, ISIN: INE164D01010)

Part B - Securities Moving to Higher ASM Stage

NIL

Part C - Securities Moving to Lower ASM Stage

NIL

Part D - Securities in Direct Stage IV LT-ASM

NIL

Moving Out of LT-ASM Framework (Annexure II)

  1. Mcleod Russel India Ltd (Scrip Code: 532654, ISIN: INE942G01012) - Moving to ESM Framework

Impact Justification

Affects trading conditions for specific securities under enhanced surveillance framework; impacts investors holding or trading these stocks with tighter monitoring measures