Description

BSE announces securities moving into, within, and out of the Short Term Additional Surveillance Measure framework effective October 17, 2025.

Summary

BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 17, 2025. Five securities are being newly shortlisted into the ST-ASM 5/15/30 Days framework, one security will move to a lower stage, and six securities are exiting the framework. The circular also includes a consolidated list of securities currently under ST-ASM surveillance.

Key Points

  • 5 new securities entering ST-ASM framework: Garnet Construction Ltd, Sandur Manganese & Iron Ores Ltd, Shree Vatsaa Finance & leasing Ltd, Tarapur Transformers Ltd, and Travels & Rentals Ltd
  • 1 security moving to lower stage: Essex Marine Ltd (SME scrip)
  • 6 securities moving out of ST-ASM: Futuristic Solutions Ltd, Indbank Merchant Banking Services Ltd, Indraprastha Medical Corporation Ltd, Orbit Exports Ltd, Shree Pushkar Chemicals & Fertilisers Ltd, and Transglobe Foods Ltd
  • Multiple SME scrips included in the surveillance measures (marked with @)
  • Some securities marked with asterisk (*) indicating NSE coordination
  • Framework includes Stage I surveillance for various securities in consolidated list

Regulatory Changes

The ST-ASM framework applies additional surveillance measures to securities exhibiting unusual price movements or trading patterns. Securities under this framework are subject to enhanced monitoring with 5/15/30 day observation periods. The framework operates in multiple stages, with securities potentially moving between stages or into other surveillance frameworks (LT-ASM, Trade for Trade, GSM, ESM, or Pledge Framework).

Compliance Requirements

  • Market participants must be aware of securities under ST-ASM framework when trading
  • Enhanced surveillance may result in additional margin requirements or trading restrictions
  • Brokers and trading members should update their systems to reflect the new classifications
  • Special attention required for SME scrips marked with @ symbol
  • T+0 scrips marked with ~ are monitored as per parent company

Important Dates

  • Effective Date: October 17, 2025 - Changes to ST-ASM framework become applicable

Impact Assessment

Market Impact: The inclusion of securities in ST-ASM framework typically results in reduced liquidity and increased volatility monitoring. Investors may face higher margin requirements and stricter position limits for affected securities.

Trading Impact: Securities entering the framework may experience reduced trading volumes as additional surveillance measures discourage speculative trading. The exit of six securities from the framework restores normal trading conditions for those stocks.

Investor Impact: Retail and institutional investors holding positions in newly listed ST-ASM securities should review their portfolios and be prepared for potential additional margin calls or position adjustments. The movement of Essex Marine to a lower stage indicates improved trading behavior.

Impact Justification

Affects trading conditions for multiple securities under surveillance framework; impacts liquidity and trading activity for listed companies but is part of routine surveillance measures