Description
BSE announces changes to securities under Short Term Additional Surveillance Measure framework, with 13 securities being added and 8 securities moving out effective October 13, 2025.
Summary
BSE has issued a circular detailing changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 13, 2025. The circular identifies 13 securities being newly included in the ST-ASM framework, 8 securities moving out of the framework (some due to inclusion in other surveillance frameworks like LT-ASM and ESM), and provides a consolidated list of all securities under ST-ASM surveillance.
Key Points
- 13 securities newly shortlisted for ST-ASM Framework including BlueStone Jewellery, Bothra Metals & Alloys, Hybrid Financial Services, and others
- 8 securities moving out of ST-ASM Framework, with some transitioning to LT-ASM or ESM frameworks
- No securities moving to higher or lower stages within the ST-ASM framework
- Changes effective from October 13, 2025
- Framework includes both main board and SME scrips
- Some securities marked with special indicators for NSE alignment, SME status, and T+0 trading
Securities Added to ST-ASM (Effective October 13, 2025)
- BlueStone Jewellery and Lifestyle Ltd (544484, INE304W01038)
- Bothra Metals & Alloys Ltd (535279, INE583M01012) - SME
- Hybrid Financial Services Ltd (500262, INE965B01022)
- Jay Ushin Ltd (513252, INE289D01015)
- Keynote Financial Services Ltd (512597, INE681C01015)
- Machhar Industries Ltd (543934, INE01BT01015)
- Murae Organisor Ltd (542724, INE060601031)
- Nagreeka Capital & Infrastructure Ltd (532895, INE245I01016)
- Sacheta Metals Ltd (531869, INE433G01020)
- Shankara Building Products Ltd (540425, INE274V01019)
- Skyline Millars Ltd (505650, INE178E01026)
- We Win Ltd (543535, INE082W01014)
- Zenith Steel Pipes & Industries Ltd (531845, INE318D01020)
Securities Moving Out of ST-ASM (Effective October 13, 2025)
- Dhanlaxmi Cotex Ltd (512485, INE977F01010)
- Escorp Asset Management Ltd (540455, INE953W01016) - Moving to ESM Framework
- Palred Technologies Ltd (532521, INE218G01033) - Moving to LT-ASM Framework
- Parker Agrochem Exports Ltd (524628, INE750B01010)
- Rajnish Retail Ltd (530525, INE786J01033) - Moving to LT-ASM Framework
- RIR Power Electronics Ltd (517035, INE302D01024)
- Rushil Decor Ltd (533470, INE573K01025)
- Umiya Buildcon Ltd (532376, INE398B01018)
Regulatory Framework
The Short Term ASM Framework is a surveillance mechanism that applies additional monitoring and trading restrictions to securities exhibiting unusual price movements or volumes over short periods (5/15/30 days). Securities can transition between different surveillance frameworks based on their trading patterns and risk profiles.
Compliance Requirements
- Market participants must note the changed surveillance status of affected securities
- Trading in ST-ASM securities is subject to enhanced surveillance measures
- Securities may have modified trading parameters including price bands and settlement requirements
- Brokers and traders should adjust their risk management systems accordingly
Important Dates
- Effective Date: October 13, 2025
- Circular Date: October 10, 2025
Impact Assessment
The inclusion of securities in ST-ASM framework typically results in reduced liquidity and increased trading costs due to stricter surveillance measures. For the 8 securities moving out, 3 are transitioning to other surveillance frameworks (LT-ASM or ESM) which may maintain or increase restrictions, while 5 are exiting surveillance measures entirely. The addition of 13 new securities indicates heightened regulatory scrutiny on these stocks due to recent trading patterns. Market participants trading these securities should expect potential impacts on order execution, margin requirements, and overall trading flexibility.
Impact Justification
Affects trading conditions for 21 securities through inclusion/exclusion from ST-ASM framework, impacting liquidity and trading parameters for these stocks.