Description

BSE updates the list of securities under Long Term Additional Surveillance Measure framework, including additions, movements between stages, and exclusions effective October 17, 2025.

Summary

BSE has issued an update on the applicability of Long Term Additional Surveillance Measure (LT-ASM) framework effective October 17, 2025. The circular provides a comprehensive list of securities being newly added to the framework, securities moving between different ASM stages, securities being excluded from the framework, and a consolidated list of all securities currently under surveillance.

Key Points

  • 5 securities newly shortlisted in Long Term ASM Framework (Part A)
  • 1 security (Earthstahl & Alloys Ltd) moved to higher Stage II ASM while continuing in LT-ASM
  • 2 securities (LKP Finance Ltd and Stallion India Fluorochemicals Ltd) placed directly in Stage IV under LT-ASM
  • 2 securities (Deep Diamond India Ltd and Sanathnagar Enterprises Ltd) moving out of LT-ASM Framework
  • Deep Diamond India Ltd moved to ESM Framework
  • Sanathnagar Enterprises Ltd moved to GSM Framework
  • Changes effective from October 17, 2025

Securities Affected

New Entries to LT-ASM (Part A):

  1. Atal Realtech Ltd (543911, INE0ALR01029)
  2. Ganon Products Ltd (512443, INE162L01017)
  3. Indrayani Biotech Ltd (526445, INE007C01021)
  4. Jet Solar Ltd (538794, INE155R01018)
  5. S. V. J. ENTERPRISES Ltd (543799, INE0JZS01010)

Moving to Higher Stage (Part B):

  1. Earthstahl & Alloys Ltd (543765, INE0O4V01010) - moved to Stage II

Direct Stage IV Placement (Part D):

  1. LKP Finance Ltd (507912, INE724A01017)
  2. Stallion India Fluorochemicals Ltd (544342, INE0RYC01010)

Exiting LT-ASM (Annexure II):

  1. Deep Diamond India Ltd (539559, INE005G01026) - moved to ESM Framework
  2. Sanathnagar Enterprises Ltd (509423, INE367E01033) - moved to GSM Framework

Regulatory Framework

The Long Term ASM framework is a surveillance measure designed to alert investors about securities showing abnormal price movements or other concerns. Securities under this framework face additional compliance requirements and trading restrictions based on their stage (I, II, III, or IV).

Important Dates

  • Effective Date: October 17, 2025
  • All changes to surveillance classifications become applicable from this date

Impact Assessment

For Investors: Investors holding securities newly added to LT-ASM or moved to higher stages should be aware of increased trading restrictions and surveillance. These securities may face additional margin requirements, price bands, or other trading limitations.

For Listed Companies: Companies must ensure compliance with enhanced disclosure requirements and may face reputational impact from surveillance classification.

Market Impact: The surveillance framework helps protect investors by identifying potentially risky securities while maintaining market integrity. Securities moving to higher stages or direct Stage IV placement indicate heightened regulatory concerns.

Impact Justification

Regular surveillance framework update affecting specific securities with trading restrictions, important for investors holding these stocks