Description

BSE updates the list of securities under Short Term Additional Surveillance Measure framework effective October 31, 2025, including new additions, stage movements, and securities moving out of ST-ASM.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective October 31, 2025. The circular identifies 4 new securities being added to ST-ASM, 1 security moving to higher stage ASM, and 7 securities exiting the ST-ASM framework. The consolidated list includes securities across various ST-ASM stages with different surveillance levels.

Key Points

  • 4 new securities shortlisted under Short Term 5/15/30 Days ASM Framework: Amanaya Ventures Ltd, Mittal Sections Ltd, Rachit Prints Ltd, and Sunsky Logistics Ltd (all SME scrips)
  • KBS India Ltd will move to higher Stage ASM while continuing in ST-ASM framework
  • No securities are moving to lower Stage ASM
  • 7 securities are exiting ST-ASM framework, with most transitioning to other surveillance frameworks (LT-ASM, ESM)
  • Framework includes special markings for SME scrips (@), T+0 scrips (~), and securities transitioning to other frameworks
  • Consolidated list provides comprehensive view of all securities currently under ST-ASM with their respective stages

Regulatory Changes

The ST-ASM framework continues to apply staged surveillance measures (5/15/30 days) to securities exhibiting unusual price movements or trading patterns. Securities can migrate between stages or move to other surveillance frameworks including:

  • Long Term ASM (LT-ASM) Framework
  • Enhanced Surveillance Measure (ESM) Framework
  • Graded Surveillance Measure (GSM) Framework
  • Trade for Trade Framework
  • Pledge Framework

Compliance Requirements

  • Trading members must implement surveillance parameters for newly added securities from October 31, 2025
  • Securities under ST-ASM are subject to price bands and additional margin requirements as per framework stage
  • SME scrips marked with @ require special attention under surveillance measures
  • Members must update their systems to reflect stage migrations and exits from ST-ASM framework

Important Dates

  • Effective Date: October 31, 2025 - All changes to ST-ASM framework become applicable

Impact Assessment

Market Impact: Medium - The framework affects 24+ securities with varying levels of surveillance, potentially reducing liquidity and increasing trading costs for affected scrips.

Investor Impact: Investors holding or trading these securities will face additional margin requirements and trading restrictions. Securities moving to higher stages face stricter surveillance.

Operational Impact: Brokers and trading members need to update risk management systems and inform clients about changed trading parameters for affected securities.

Exit Transitions: 7 securities exiting ST-ASM framework indicates either improved trading behavior or migration to more stringent surveillance frameworks (LT-ASM, ESM), which may have longer-term implications for those securities.

Impact Justification

Affects trading parameters for multiple securities under surveillance framework, impacting liquidity and trading flexibility for listed companies and investors