Description
BSE circular detailing securities moving in and out of the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 21, 2025.
Summary
BSE has issued an update on the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 21, 2025. The circular lists securities moving out of the ST-ASM framework and provides a consolidated list of securities remaining under surveillance. No new securities were added to the ST-ASM framework in this update.
Key Points
- No new securities shortlisted in Short Term 5/15/30 Days ASM Framework
- 9 securities moving out of ST-ASM Framework effective October 21, 2025
- Securities removed are being moved to other surveillance frameworks (LT-ASM or ESM)
- Consolidated list includes 17+ securities remaining under ST-ASM framework at Stage I
- Framework includes securities from both main board and SME segment
Securities Moving Out of ST-ASM
Securities Removed (Effective October 21, 2025):
- Bits Ltd (526709, INE839A01021) - Moving to LT-ASM Framework
- BlueStone Jewellery and Lifestyle Ltd (544484, INE304W01038)
- Bothra Metals & Alloys Ltd (535279, INE583M01012)
- Croissance Ltd (531909, INE587J01027) - Moving to LT-ASM Framework
- Earkart Ltd (544549, INE1A8F01035) - Moving to ESM Framework
- Hybrid Financial Services Ltd (500262, INE965B01022)
- Jay Ushin Ltd (513252, INE289D01015)
- Keynote Financial Services Ltd (512597, INE681C01015)
- Tarapur Transformers Ltd (533203, INE747K01017) - Moving to ESM Framework
Securities Remaining in ST-ASM Framework
Partial Consolidated List (Stage I):
- ABM Knowledgeware Ltd (531161)
- Adeshwar Meditex Ltd (543309) - SME
- Angel Fibers Ltd (541006) - SME
- Aptus Pharma Ltd (544529) - SME
- Banco Products (India) Ltd (500039)
- Bhagwati Autocast Ltd (504646)
- Billwin Industries Ltd (543209) - SME
- Bonlon Industries Ltd (543211)
- Capital Trust Ltd (511505)
- Cargotrans Maritime Ltd (543618) - SME
- Dynamic Industries Ltd (524818)
- Envair Electrodyne Ltd (500246)
- Essex Marine Ltd (544475) - SME
- Garnet Construction Ltd (526727)
- Getalong Enterprise Ltd (543372) - SME
- Global Vectra Helicorp Ltd (532773)
Regulatory Framework
The Short Term Additional Surveillance Measure (ST-ASM) is applied to securities showing unusual price movements or volume variations over short periods (5/15/30 days). Securities can be:
- Moved to higher stage ASM for continued unusual activity
- Moved to lower stage ASM for improvement
- Moved out to other frameworks (LT-ASM, ESM, GSM, Trade-for-Trade, or Pledge Framework)
- Subject to enhanced surveillance and trading restrictions
Compliance Requirements
- Market participants should note the securities moving out of ST-ASM framework
- Trading members must update their surveillance systems accordingly
- Investors should be aware that securities remaining in ST-ASM are subject to additional surveillance measures
- SME scrips and T+0 scrips may have special considerations as marked in the circular
Important Dates
- Effective Date: October 21, 2025
- Changes to ST-ASM framework applicable from market opening on this date
Impact Assessment
Market Impact: Medium - The removal of 9 securities from ST-ASM framework indicates either improved trading behavior or movement to more stringent surveillance frameworks. No new additions suggest stable market conditions for most securities.
Trading Impact: Securities moving out of ST-ASM may see changes in trading restrictions depending on their destination framework (LT-ASM or ESM have different requirements). Securities remaining in ST-ASM continue to face enhanced surveillance measures including possible price bands, trading frequency limits, or margin requirements.
Investor Consideration: Investors holding securities in ST-ASM framework should monitor for compliance with surveillance measures and be aware of potential liquidity constraints.
Impact Justification
Affects trading conditions for multiple securities through surveillance framework changes. No new securities added to ST-ASM, but 9 securities removed and moved to other frameworks.