Description

BSE revises price bands for 43 scrips ranging from 2% to 20% effective October 20, 2025, affecting trading volatility limits across multiple securities.

Summary

BSE has announced revisions to price bands for 43 securities effective October 20, 2025. Price bands range from 2% (most restrictive) to 20% (less restrictive), representing circuit filters that limit maximum daily price movement. This circular modifies existing price band levels for securities across various sectors including paper, textiles, infrastructure, electronics, and trading companies.

Key Points

  • 43 securities will have revised price bands effective October 20, 2025
  • Price bands range from 2% to 20% depending on the security
  • Most restrictive bands (2%): Anka India Ltd, Elango Industries Ltd, Milestone Furniture Ltd
  • Moderately restrictive bands (5%): 17 securities including Agio Paper, Amal Ltd, Deep Diamond India, and others
  • Common restriction level (10%): 7 securities including DAPS Advertising, Parsvnath Developers, Share India Securities
  • Standard restriction (20%): 18 securities including Bemco Hydraulics, Bihar Sponge Iron, Inter State Oil Carrier
  • Changes affect trading volatility limits and intraday price movement restrictions
  • Trading members can contact bse.surv@bseindia.com for clarifications

Regulatory Changes

This circular implements revised circuit filter limits through price band adjustments. Price bands are surveillance measures that restrict the maximum percentage a security can move up or down in a single trading day. Tighter bands (2-5%) indicate higher surveillance concerns, while wider bands (20%) represent relatively normal trading conditions. These changes reflect BSE’s ongoing surveillance and risk management framework.

Compliance Requirements

  • Trading members must update their systems to reflect revised price bands before October 20, 2025
  • Order entry systems should enforce new price band limits from the effective date
  • Trading members should inform clients trading in these securities about the revised volatility limits
  • Risk management systems must be configured to comply with new circuit filter levels

Important Dates

  • Notice Date: October 17, 2025
  • Effective Date: October 20, 2025 (revised price bands become applicable)

Impact Assessment

Trading Impact: Securities with tighter price bands (2-5%) will experience reduced intraday volatility and limited price discovery during high-volatility periods. This may affect liquidity and increase the likelihood of circuit hits during volatile market conditions.

Investor Impact: Traders in these securities will face stricter daily price movement limits, potentially requiring multi-day exits for large positions. The tight bands suggest these securities are under enhanced surveillance, indicating higher regulatory scrutiny.

Market Segment: The affected securities appear to be small-cap and micro-cap stocks across diverse sectors. The presence of companies like Parsvnath Developers (10% band) and Share India Securities (10% band) indicates both real estate and financial services sectors are represented.

Surveillance Context: Price band revisions typically indicate concerns about volatility, speculative activity, or price manipulation. The restrictive bands (2-5%) on 20 securities suggest heightened surveillance measures for those specific scrips.

Impact Justification

Affects 43 securities with revised trading bands from 2% to 20%, impacting intraday volatility and trading flexibility for these scrips. Medium importance as these appear to be smaller-cap stocks under surveillance measures.