Description

BSE updates on securities entering and exiting Long Term Additional Surveillance Measure (LT-ASM) framework effective October 15, 2025.

Summary

BSE has issued updates regarding securities under the Long Term Additional Surveillance Measure (LT-ASM) framework. Three securities will be newly shortlisted in LT-ASM effective October 15, 2025: Bombay Talkies Ltd, Gujarat Terce Laboratories Ltd, and Mizzen Ventures Ltd. Additionally, Cubical Financial Services Ltd will exit the LT-ASM framework on October 14, 2025 due to inclusion in the Enhanced Surveillance Measure (ESM) Framework. No securities will move to higher or lower ASM stages, and no securities will be placed in direct Stage IV LT-ASM.

Key Points

  • Three securities entering LT-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) moving to ESM Framework
  • No securities moving to higher or lower ASM stages within LT-ASM
  • No securities being placed directly in Stage IV LT-ASM
  • Consolidated list includes numerous securities already under various ASM Stage I designations

Regulatory Changes

The circular implements routine updates to the Long Term Additional Surveillance Measure framework, which is designed to alert investors about securities exhibiting abnormal price movements or other concerns. Securities under LT-ASM are subject to additional margin requirements and trading restrictions to protect market integrity.

Compliance Requirements

  • Trading members must ensure compliance with enhanced margin requirements for securities under LT-ASM
  • Investors should be aware of additional surveillance measures applicable to these securities
  • Securities moving between surveillance frameworks (LT-ASM to ESM) require updated risk management protocols
  • Market participants must adjust their systems for the effective dates specified

Important Dates

  • October 14, 2025: Cubical Financial Services Ltd exits LT-ASM framework
  • October 15, 2025: Three new securities enter LT-ASM framework; surveillance stage changes take effect

Impact Assessment

The changes affect a limited number of securities, with three additions and one removal from the LT-ASM framework. Investors holding these securities will experience increased margin requirements and trading restrictions designed to mitigate risk. The movement of Cubical Financial Services Ltd to ESM indicates heightened surveillance concerns. Market participants trading these securities should review their positions and ensure adequate margin coverage. The consolidated list demonstrates BSE’s ongoing monitoring of securities with elevated risk profiles, affecting investor sentiment and liquidity in these stocks.

Impact Justification

Affects trading of specific securities under enhanced surveillance; limited number of stocks impacted but important for investors holding these securities