Description

BSE announces list of securities being included, moved, and excluded from the Short Term 5/15/30 Days ASM Framework effective October 16, 2025.

Summary

BSE has issued the updated list of securities under the Short Term Additional Surveillance Measure (ST-ASM) Framework effective October 16, 2025. The circular identifies 9 securities newly shortlisted for ST-ASM, 1 security moving to higher stage ASM, and 10 securities moving out of the framework. The consolidated list includes securities at various stages of the ST-ASM framework with enhanced surveillance requirements.

Key Points

  • 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
  • 1 security (United Cotfab Ltd) continues in ST-ASM but moves to higher stage
  • 10 securities moving out of ST-ASM Framework, some transitioning to other surveillance frameworks
  • Changes effective from October 16, 2025
  • Framework applies to both main board and SME scrips
  • Consolidated list provides current ASM stage for all affected securities

Securities Newly Shortlisted for ST-ASM (Stage I)

  1. ABM Knowledgeware Ltd (531161, INE850B01026)
  2. Adeshwar Meditex Ltd@ (543309, INE0H8J01015)
  3. Angel Fibers Ltd@ (541006, INE339Z01011)
  4. Bonlon Industries Ltd (543211, INE0B9A01018)
  5. Croissance Ltd (531909, INE587J01027)
  6. Getalong Enterprise Ltd@ (543372, INE0H1201020)
  7. GM Breweries Ltd* (507488, INE075D01018)
  8. Regent Enterprises Ltd (512624, INE769D01016)
  9. UR Sugar Industries Ltd (539097, INE904R01027)

*As per NSE @ SME Scrips

Securities Moving to Higher Stage ASM

  • United Cotfab Ltd@ (544195, INE0S0I01011)

Securities Moving Out of ST-ASM Framework

  1. BLT Logistics Ltd@ (544474, INE0W4K01013)
  2. Machhar Industries Ltd* (543934, INE01BT01015) - moving to LT-ASM
  3. NIS Management Ltd@ (544495, INE0M3X01010)
  4. Ontic Finserve Ltd (540386, INE989S01042)
  5. Orient Technologies Ltd (544235, INE0PPK01015)
  6. Raj Oil Mills Ltd (533093, INE294G01026)
  7. TATA INV COR~* (101301, INE672A01026) - moving to LT-ASM
  8. Tata Investment Corporation Ltd* (501301, INE672A01026) - moving to LT-ASM
  9. Titan Intech Ltd$ (521005, INE807M01031) - moving to ESM
  10. We Win Ltd$ (543535, INE082W01014) - moving to ESM

Regulatory Changes

The Short Term ASM Framework is a surveillance measure designed to alert investors about securities showing abnormal price movements or volatility. Securities under ST-ASM are subject to:

  • Enhanced surveillance monitoring
  • Potential trading restrictions
  • Additional disclosure requirements
  • Staged progression based on continued unusual activity

Securities may transition between different surveillance frameworks (ST-ASM, LT-ASM, ESM, GSM, Trade for Trade, Pledge Framework) based on ongoing monitoring.

Compliance Requirements

  • Market participants must note the enhanced surveillance status of listed securities
  • Trading members should inform clients about securities under ST-ASM
  • Investors should exercise additional caution when trading these securities
  • Securities may be subject to specific trading restrictions based on ASM stage

Important Dates

  • Effective Date: October 16, 2025
  • All changes to ST-ASM framework become applicable from market opening on this date

Impact Assessment

Market Impact: High - Affects trading liquidity and investor confidence in 20+ securities

Operational Impact: Securities under ST-ASM face enhanced scrutiny and potential trading restrictions, which may result in:

  • Reduced trading volumes
  • Wider bid-ask spreads
  • Lower liquidity
  • Increased margin requirements
  • Potential difficulty in position exits

Investor Impact: Investors holding or trading these securities should be aware of enhanced surveillance status and associated risks. Some securities transitioning to stricter frameworks (LT-ASM, ESM) face more severe trading restrictions.

Note: Securities marked with special symbols indicate specific categories:

  • @ = SME Scrips
    • = Also listed on NSE or moving to LT-ASM
  • $ = Moving to ESM Framework
  • ~ = T+0 Scrips

Impact Justification

Surveillance measures directly impact trading activities and liquidity of affected securities. Inclusion in ST-ASM imposes additional restrictions on trading, affecting investors and market participants.