Description

BSE announces securities moving into and out of Long Term ASM Framework effective October 15, 2025, with three new securities added to surveillance.

Summary

BSE has issued an update on the applicability of Long Term Additional Surveillance Measure (LT-ASM) Framework effective October 15, 2025. Three securities have been newly shortlisted for inclusion in LT-ASM, while one security (Cubical Financial Services Ltd) is moving out due to inclusion in ESM Framework. No securities are moving to higher or lower ASM stages, and no securities are being directly placed in Stage IV.

Key Points

  • Three new securities added to Long Term ASM Framework: Bombay Talkies Ltd (511246), Gujarat Terce Laboratories Ltd (524314), and Mizzen Ventures Ltd (531537)
  • One security exiting LT-ASM: Cubical Financial Services Ltd (511710) due to inclusion in ESM Framework
  • No securities moving to higher or lower ASM stages within the framework
  • No securities being directly placed in Stage IV Long Term ASM
  • Changes effective from October 15, 2025
  • Consolidated list includes 15+ securities currently under various ASM stages

Regulatory Changes

The Long Term ASM Framework continues to operate as a surveillance mechanism for securities exhibiting concerning trading patterns. Securities can move out of LT-ASM when they are included in other surveillance frameworks such as ESM (Enhanced Surveillance Measure), GSM (Graded Surveillance Measure), IBC Framework, or Trade for Trade framework.

Compliance Requirements

  • Trading members must be aware of securities under LT-ASM and associated trading restrictions
  • Securities in LT-ASM are subject to additional monitoring and surveillance measures
  • Investors should exercise caution when trading in securities listed under LT-ASM Framework
  • Market participants must comply with any specific trading conditions applicable to LT-ASM securities

Important Dates

  • October 14, 2025: Circular issuance date; Cubical Financial Services Ltd exits LT-ASM
  • October 15, 2025: Effective date for three new securities entering LT-ASM Framework

Impact Assessment

The addition of three securities to LT-ASM indicates enhanced surveillance due to potential concerns about price volatility, liquidity issues, or unusual trading patterns. Trading in these securities will be subject to additional restrictions and monitoring. The exit of Cubical Financial Services Ltd to ESM Framework suggests it requires a different level of surveillance措施. Overall market impact is limited to specific securities and their investors, with minimal broader market implications. Investors holding positions in the newly added securities should be prepared for potential trading restrictions and increased scrutiny.

Impact Justification

Affects three securities entering LT-ASM surveillance and one exiting, indicating ongoing market monitoring with trading restrictions for shortlisted stocks