Description

BSE announces changes to securities under Short Term Additional Surveillance Measure framework, with 5 new securities added, 1 moved to lower stage, and 6 securities moving out, effective October 17, 2025.

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 17, 2025. Five securities are being newly shortlisted under the ST-ASM framework, one security (Essex Marine Ltd) is being moved to a lower stage within the framework, and six securities are exiting the ST-ASM framework entirely. The circular includes consolidated lists of all securities currently under ST-ASM surveillance with their respective stages.

Key Points

  • 5 securities newly added to Short Term 5/15/30 Days ASM Framework: Garnet Construction Ltd, Sandur Manganese & Iron Ores Ltd, Shree Vatsaa Finance & leasing Ltd, Tarapur Transformers Ltd, and Travels & Rentals Ltd
  • Essex Marine Ltd moved to lower Stage ASM while remaining in ST-ASM framework
  • 6 securities moving out of ST-ASM Framework: Futuristic Solutions Ltd, Indbank Merchant Banking Services Ltd, Indraprastha Medical Corporation Ltd, Orbit Exports Ltd, Shree Pushkar Chemicals & Fertilisers Ltd, and Transglobe Foods Ltd
  • No securities moved to higher Stage ASM this period
  • Several securities marked as SME scrips (indicated with @)
  • Some securities aligned with NSE surveillance measures (indicated with *)

Regulatory Changes

The ST-ASM framework applies enhanced surveillance and trading restrictions to securities based on market behavior patterns. Securities in this framework may face additional margins, price bands, or other trading restrictions. The framework operates in stages (5/15/30 days) with varying levels of surveillance intensity. Securities can move between stages, enter the framework, or exit based on market activity and compliance with surveillance criteria.

Compliance Requirements

  • Trading members must be aware of securities under ST-ASM and applicable restrictions
  • Enhanced margin requirements apply to securities in ST-ASM framework
  • Price discovery mechanisms may be affected for listed securities
  • Members should inform clients about securities under surveillance measures
  • Compliance with additional surveillance conditions is mandatory for continued trading

Important Dates

  • October 17, 2025: Effective date for all changes to ST-ASM framework
  • Securities newly added to ST-ASM will have surveillance measures applied from this date
  • Securities exiting ST-ASM will have restrictions removed from this date
  • Stage changes for existing securities become effective from this date

Impact Assessment

Market Impact: Medium - The changes affect 12 securities across different sectors. Trading volumes and liquidity in these stocks may be impacted due to surveillance measures. New entrants to ST-ASM may see reduced trading activity due to additional margins and restrictions.

Investor Impact: Investors holding or trading these securities need to be aware of enhanced surveillance measures, which typically include higher margin requirements and potential trading restrictions. Securities moving out of ST-ASM framework will see normalized trading conditions.

Operational Impact: Trading members must update their systems and risk management frameworks to reflect the new ST-ASM status of affected securities. Several SME securities are included, requiring special attention from brokers dealing in SME segment.

Impact Justification

Regular surveillance measure update affecting 12 securities with trading restrictions. Important for traders and investors in these specific stocks but limited broader market impact.