Description

BSE announces securities being added to and removed from the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 14, 2025.

Summary

BSE has issued an updated list of securities subject to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 14, 2025. Seven securities are being newly added to the ST-ASM framework, while seven securities are being removed. The circular includes a consolidated list of all securities currently under various stages of ST-ASM.

Key Points

• 7 securities newly added to Short Term 5/15/30 Days ASM Framework:
  • Billwin Industries Ltd (SME)
  • Capital Trust Ltd
  • Dharani Finance Ltd
  • Jetking Infotrain Ltd
  • Jindal Photo Ltd
  • Lead Financial Services Ltd
  • Zinema Media And Entertainment Ltd (SME)
• 7 securities moving out of ST-ASM Framework:
  • Kanungo Financiers Ltd
  • Nagreeka Capital & Infrastructure Ltd (moved to ESM Framework)
  • RACL Geartech Ltd
  • Sammaan Capital Ltd and its T+0 variant
  • Skyline Millars Ltd (moved to LT-ASM Framework)
  • Take Solutions Ltd (moved to ESM Framework)
• No securities moved to higher or lower ASM stages within the framework
• Consolidated list includes securities under Stage I of ST-ASM

Regulatory Changes

The ST-ASM framework continues BSE’s risk management and surveillance measures to protect investor interests. Securities under this framework are subject to enhanced surveillance with restrictions on trading based on price movements and volatility patterns over 5/15/30 day periods.

Compliance Requirements

• Market participants must note the revised list of securities under ST-ASM framework
• Trading members should ensure appropriate risk management for securities in surveillance framework
• Investors trading in these securities should be aware of enhanced surveillance status

Important Dates

• Effective Date: October 14, 2025 - New ST-ASM framework becomes applicable

Impact Assessment

The addition of 7 securities to ST-ASM indicates heightened surveillance requirements due to unusual price movements or volatility. Securities moving to ESM (Enhanced Surveillance Measure) or LT-ASM (Long Term ASM) frameworks face additional restrictions. The framework aims to curb excessive speculation and protect investors while maintaining market integrity. Trading in affected securities may experience reduced liquidity and increased scrutiny.

Annexure Details

Annexure I - Part A: Securities Shortlisted in ST-ASM

Annexure II - Part A: Securities Moving Out of ST-ASM

Legend:

• @ = SME Scrips
• ~ = T+0 Scrips
• • = As per NSE / Moved to LT-ASM
• $ = Moved to ESM Framework
• ** = Moved to Trade for Trade Framework

• = Moved to GSM Framework

• ^ = Moved to Pledge Framework

Impact Justification

Routine surveillance framework update affecting specific securities with enhanced monitoring requirements for investor protection