Description

BSE announces changes to the Short Term Additional Surveillance Measure (ST-ASM) framework, including 9 securities newly shortlisted and 2 securities moving out, effective October 10, 2025.

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 10, 2025. Nine securities have been newly shortlisted for inclusion in the ST-ASM framework, while two securities are moving out. The ST-ASM framework applies enhanced surveillance measures including 5/15/30 days monitoring stages to securities exhibiting unusual price movements or trading patterns.

Key Points

  • 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework from October 10, 2025
  • 2 securities moving out of ST-ASM Framework (Banaras Beads Ltd and Gayatri Sugars Ltd)
  • Gayatri Sugars Ltd moving out due to inclusion in LT-ASM Framework
  • No securities moving to higher or lower ASM stages
  • Framework includes special markers for SME scrips (@) and T+0 scrips (~)
  • Consolidated list shows securities across Stage I and Stage II classifications

Securities Added to ST-ASM (Stage I)

  1. AIK Pipes and Polymers Ltd (544072, INE0QFT01015) - SME Scrip
  2. Amarnath Securities Ltd (538465, INE745P01010)
  3. California Software Company Ltd (532386, INE526B01014)
  4. Eimco Elecon (India) Ltd (523708, INE158B01016)
  5. Essar Shipping Ltd (533704, INE122M01019)
  6. New Light Apparels Ltd (540243, INE835U01027)
  7. Palred Technologies Ltd (532521, INE218G01033)
  8. Rita Finance and Leasing Ltd (543256, INE018S01016)
  9. Titan Intech Ltd (521005, INE807M01031)

Securities Exiting ST-ASM

  1. Banaras Beads Ltd (526849, INE655B01011)
  2. Gayatri Sugars Ltd (532183, INE622E01023) - Moving to LT-ASM Framework

Regulatory Changes

The ST-ASM framework is a surveillance mechanism designed to alert investors about securities with abnormal price movements. Securities under this framework are subject to:

  • Enhanced monitoring across 5/15/30 day periods
  • Stage-based classification (Stage I and Stage II)
  • Potential progressive escalation to higher surveillance stages
  • Additional disclosure and transparency requirements
  • Possible trading restrictions based on stage level

Compliance Requirements

  • Market participants must be aware of securities under ST-ASM surveillance
  • Enhanced due diligence recommended for trading in listed securities
  • Brokers should ensure clients are informed about surveillance status
  • Investors should exercise caution when trading ST-ASM securities
  • Regular monitoring of stage changes and framework updates required

Important Dates

  • Effective Date: October 10, 2025 - All changes to ST-ASM framework become applicable
  • Circular Date: October 9, 2025

Impact Assessment

Market Impact: Medium - The addition of 9 securities to ST-ASM surveillance indicates increased regulatory scrutiny on these stocks due to unusual trading patterns or price movements. Investors may experience:

  • Reduced liquidity in affected securities
  • Higher margin requirements potentially imposed
  • Increased volatility awareness
  • Enhanced risk perception

Investor Impact: Existing and potential investors in the 9 newly added securities should exercise heightened caution. The surveillance framework serves as an early warning system for abnormal market behavior.

Operational Impact: Trading members and participants need to update their systems and risk management frameworks to account for the surveillance measures applicable to these securities. The movement of Gayatri Sugars Ltd to LT-ASM indicates escalation to long-term surveillance, suggesting persistent concerns requiring extended monitoring.

Impact Justification

Affects 9 securities entering ST-ASM surveillance framework and 2 exiting, impacting trading conditions for these specific stocks with enhanced monitoring measures