Description

BSE circular updating the list of securities under Long Term Additional Surveillance Measure framework effective October 31, 2025, including new inclusions, stage movements, and consolidated list.

Summary

BSE has updated the list of securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective October 31, 2025. The circular identifies 6 new securities entering LT-ASM, 1 security moving to higher ASM Stage II, and 1 security moving directly to Stage IV. No securities are being removed from the framework. The circular includes a consolidated list of all securities currently under various ASM stages.

Key Points

  • 6 new securities shortlisted in Long Term ASM Framework: Continental Controls Ltd, Lancer Container Lines Ltd, Panabyte Technologies Ltd, Pro Clb Global Ltd, Svarnim Trade Udyog Ltd, and UTL Industries Ltd
  • Infobeans Technologies Ltd moves to higher ASM Stage II while continuing in LT-ASM framework
  • A-1 Ltd directly placed in Stage IV Long Term ASM Framework
  • No securities moving to lower ASM stages or exiting the LT-ASM framework
  • Consolidated list provided showing all securities under ASM surveillance with their respective stages
  • Changes effective from October 31, 2025

Regulatory Changes

The Long Term ASM framework is designed to alert investors about securities exhibiting abnormal price movements or unusual trading patterns over an extended period. Securities under this framework face additional trading restrictions including:

  • Enhanced disclosure requirements
  • Stricter price bands
  • Increased margin requirements for trading
  • Potential restrictions on intraday trading

Stage progression (I to IV) indicates escalating surveillance levels with progressively stricter trading conditions.

Compliance Requirements

  • Trading members must ensure adequate client disclosure about securities under LT-ASM framework
  • Investors trading in these securities must be aware of enhanced margin requirements
  • Members must comply with additional reporting and monitoring obligations for LT-ASM securities
  • Risk management systems should be updated to reflect changed surveillance status

Important Dates

  • Effective Date: October 31, 2025 - New LT-ASM classifications and stage movements become applicable

Impact Assessment

Trading Impact: Securities newly included or moved to higher ASM stages will face increased trading restrictions, potentially reducing liquidity and increasing volatility. Higher margin requirements may discourage speculative trading.

Investor Impact: Investors holding or planning to trade these securities should be aware of enhanced surveillance, which signals regulatory concerns about price movements or trading patterns. This may affect investment decisions and portfolio strategies.

Market Safety: The LT-ASM framework aims to protect investors from excessive speculation and price manipulation, promoting market stability for securities showing concerning trading characteristics over extended periods.

Impact Justification

High impact as it affects trading conditions for multiple securities under surveillance framework, with some moving to higher ASM stages indicating increased restrictions and potential investor concerns