Description

BSE announces changes to securities under Short Term Additional Surveillance Measure framework, with 7 securities being added and 7 securities moving out effective October 14, 2025.

Summary

BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 14, 2025. Seven securities are being newly shortlisted under the ST-ASM framework, while seven securities are moving out of the framework. The circular also provides a consolidated list of all securities currently under various stages of ST-ASM.

Key Points

  • 7 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework from October 14, 2025
  • 7 securities moving out of ST-ASM Framework from October 14, 2025
  • Securities moving out include those transitioning to LT-ASM, ESM, and other surveillance frameworks
  • No securities are moving to higher or lower Stage ASM within the ST-ASM framework
  • List includes both mainboard and SME scrips
  • T+0 scrips are included based on parent company considerations

Securities Added to ST-ASM (Stage I)

  1. Billwin Industries Ltd (543209, INE0CRS01012) - SME
  2. Capital Trust Ltd (511505, INE707C01018)
  3. Dharani Finance Ltd (511451, INE899D01011)
  4. Jetking Infotrain Ltd (517063, INE919C01019)
  5. Jindal Photo Ltd (532624, INE796G01012)
  6. Lead Financial Services Ltd (531288, INE531D01010)
  7. Zinema Media And Entertainment Ltd (538579, INE641Q01019) - SME

Securities Moving Out of ST-ASM

  1. Kanungo Financiers Ltd (540515, INE453S01015)
  2. Nagreeka Capital & Infrastructure Ltd (532895, INE245I01016) - moved to ESM
  3. RACL Geartech Ltd (520073, INE704B01017)
  4. Sammaan Capital Ltd (535789, INE148I01020)
  5. Sammaan Capital Ltd T+0 (135789, INE148I01020)
  6. Skyline Millars Ltd (505650, INE178E01026) - moved to LT-ASM
  7. Take Solutions Ltd (532890, INE142I01023) - moved to ESM

Regulatory Changes

The ST-ASM framework is a short-term surveillance mechanism applied to securities that exhibit abnormal price movements or trading patterns. Securities under this framework are subject to additional surveillance measures for periods of 5, 15, or 30 days depending on the stage. The framework aims to protect investor interests and maintain market integrity.

Compliance Requirements

  • Trading members must take note of securities under ST-ASM framework
  • Enhanced due diligence may be required for transactions in these securities
  • Clients should be informed about the surveillance status of these securities
  • Additional margin requirements or trading restrictions may apply to securities under ST-ASM

Important Dates

  • October 14, 2025: Effective date for all changes to ST-ASM framework
    • 7 new securities enter ST-ASM
    • 7 securities exit ST-ASM

Impact Assessment

The ST-ASM framework impacts liquidity and trading conditions for the affected securities. Securities entering the framework may experience:

  • Reduced trading activity due to additional surveillance
  • Potential margin increases
  • Enhanced scrutiny of trading patterns

Securities exiting ST-ASM either graduate to stricter frameworks (LT-ASM, ESM) or have normalized trading patterns. Investors holding these securities should review their positions and understand the implications of the surveillance measures. The transition of some securities to ESM and LT-ASM indicates continued concerns requiring longer-term or more stringent surveillance.

Impact Justification

Affects trading conditions for specific securities through surveillance measures, important for investors holding these stocks but limited to a small set of securities