Description

BSE announces changes to Long Term ASM Framework effective October 27, 2025, including 2 new securities entering the framework, 3 securities moving to lower stages, and 18 securities exiting the framework.

Summary

BSE has issued an update on the applicability of the Long Term Additional Surveillance Measure (LT-ASM) Framework effective October 27, 2025. The circular identifies securities being newly shortlisted, moved between stages, and exiting the framework. Two securities are entering LT-ASM, three are moving to lower stages, and 18 securities are moving out of the framework entirely.

Key Points

  • 2 securities newly shortlisted in Long Term ASM Framework: Arcee Industries Ltd (520121) and Betex India Ltd (512477)
  • 3 securities moving to lower ASM stages: Lexoraa Industries Ltd (to Stage I) and KIOCL Ltd including T+0 scrip (to Stage III)
  • 18 securities moving out of LT-ASM Framework due to inclusion in other surveillance frameworks or meeting exit criteria
  • No securities moving to higher ASM stages
  • No securities shortlisted directly into Stage IV
  • Changes effective from October 27, 2025

Regulatory Changes

The Long Term ASM Framework continues to operate as a surveillance mechanism to monitor securities with unusual price movements or volatility. Securities in this framework face additional trading restrictions and disclosure requirements. The framework operates in multiple stages (I through IV) with increasing levels of surveillance measures.

Compliance Requirements

  • Trading members must ensure compliance with applicable restrictions on securities in LT-ASM Framework
  • Enhanced margin requirements and price bands apply to securities under surveillance
  • Investors should be aware of additional surveillance designation when trading affected securities
  • Securities may be subject to periodic call auctions and other trading restrictions based on their ASM stage

Important Dates

  • October 27, 2025: Effective date for all changes to LT-ASM Framework

Impact Assessment

Securities Entering LT-ASM (Part A):

  • Arcee Industries Ltd and Betex India Ltd will face enhanced surveillance measures including stricter price bands and margin requirements

Securities Moving to Lower Stages (Part C):

  • Lexoraa Industries Ltd moving to Stage I indicates improvement in surveillance parameters
  • KIOCL Ltd moving to Stage III represents relaxation of surveillance measures

Securities Exiting LT-ASM (Annexure II):

  • 18 securities are graduating out of the framework, though some are moving to other surveillance frameworks:
    • Envair Electrodyne Ltd and Hindustan Appliances Ltd moving to ESM Framework
    • Several securities have met exit criteria and will return to normal trading status
  • Exit from LT-ASM generally indicates improved trading patterns and reduced surveillance concerns

Overall Market Impact: Moderate impact limited to investors and traders of the 23 affected securities. The framework changes represent routine surveillance operations aimed at maintaining market integrity and protecting investor interests.

Impact Justification

Routine surveillance framework update affecting 23 securities with moderate trading restrictions. Important for investors in affected stocks but represents standard surveillance operations.