Description

BSE announces changes to securities under Short Term Additional Surveillance Measure framework, including additions, movements between stages, and removals effective October 31, 2025.

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 31, 2025. The circular identifies securities being newly included in ST-ASM, those moving between different ASM stages, and those exiting the framework. Four new securities are being added to Stage I of ST-ASM, one security is moving to a higher stage, and seven securities are moving out of the framework.

Key Points

  • 4 securities newly shortlisted for Short Term 5/15/30 Days ASM Framework (Stage I)
  • 1 security (KBS India Ltd) moving to higher Stage ASM while continuing in ST-ASM
  • 7 securities exiting ST-ASM framework, most due to inclusion in other surveillance frameworks
  • Changes effective from October 31, 2025
  • Multiple SME scrips affected by the changes

Securities Added to ST-ASM (Stage I)

New Additions effective October 31, 2025:

  1. Amanaya Ventures Ltd (543804, INE0G1V01016) - SME Scrip
  2. Mittal Sections Ltd (544575, INE833Q01012) - SME Scrip
  3. Rachit Prints Ltd (544503, INE0ZN101029) - SME Scrip
  4. Sunsky Logistics Ltd (544566, INE10CM01027) - SME Scrip

Securities Moving to Higher ASM Stage

Moving to Higher Stage while continuing in ST-ASM:

  1. KBS India Ltd (530357, INE883D01023)

Securities Exiting ST-ASM Framework

Securities moving out effective October 31, 2025:

  1. Adcon Capital Services Ltd (539506) - Moving to ESM Framework
  2. Banco Products (India) Ltd (500039)
  3. Continental Controls Ltd (531460) - Moving to LT-ASM Framework
  4. Groarc Industries India Ltd (532315) - Moving to ESM Framework
  5. Lancer Container Lines Ltd (539841) - Moving to LT-ASM Framework
  6. Riddhi Steel and Tube Ltd (540082) - Moving to ESM Framework (SME Scrip)
  7. V2 Retail Ltd (532867)

Regulatory Framework

ST-ASM Framework Purpose: The Short Term Additional Surveillance Measure is applied to securities exhibiting unusual price movements or trading patterns over short periods (5/15/30 days) to protect investors and maintain market integrity.

Stage System:

  • Securities can be placed in different stages (I, II, III, etc.) based on severity
  • Higher stages typically involve stricter surveillance and trading restrictions
  • Securities can move between stages or exit to other frameworks

Important Dates

  • Effective Date: October 31, 2025
  • All changes to ST-ASM framework become applicable from market opening on this date

Impact Assessment

Market Impact:

  • Investors holding the 4 newly added securities will face enhanced surveillance measures including potential additional margin requirements
  • Securities exiting ST-ASM may see improved liquidity if moving to less restrictive frameworks, or continued restrictions if moving to LT-ASM or ESM
  • KBS India Ltd investors should prepare for stricter surveillance as it moves to a higher stage

Investor Implications:

  • Enhanced scrutiny on new ST-ASM securities may affect trading volumes and volatility
  • SME investors particularly affected with 3 out of 4 new additions being SME scrips
  • Securities moving to ESM or LT-ASM frameworks will be subject to different surveillance criteria

Compliance Requirements:

  • Trading members must ensure systems are updated to reflect new ST-ASM classifications
  • Appropriate margin requirements and surveillance parameters must be applied from October 31, 2025

Impact Justification

Updates to surveillance framework affect multiple securities with trading restrictions, requiring investor awareness but limited to specific stocks