Description
BSE announces changes to securities under Long Term ASM Framework effective November 03, 2025, including additions, stage movements, and removals.
Summary
BSE has issued a circular regarding changes to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective November 03, 2025. The circular identifies securities being added to, moved within, or removed from the LT-ASM framework. One security (PPAP Automotive Ltd) is newly shortlisted, nine securities are being moved to lower ASM stages, and sixteen securities are moving out of the framework entirely.
Key Points
- 1 security newly shortlisted in Long Term ASM Framework: PPAP Automotive Ltd (532934)
- No securities moving to higher stages within LT-ASM
- 9 securities moving to lower ASM stages (improved compliance)
- No securities being placed directly in Stage IV
- 16 securities moving out of LT-ASM Framework
- 4 securities removed due to inclusion in Trade for Trade framework (Lyons Corporate, Nureca, SEL Manufacturing, Silver Oak India, Vintron Informatics)
- Changes effective from November 03, 2025
Regulatory Changes
The Long Term ASM Framework applies enhanced surveillance measures to securities exhibiting certain risk characteristics over an extended period. Securities can be placed in different stages (I through IV) with progressively stricter trading conditions. This circular reflects the periodic review and rebalancing of securities under this framework based on their trading patterns and compliance metrics.
Compliance Requirements
- Trading members must note the revised surveillance status of affected securities
- Securities in LT-ASM are subject to specific trading restrictions based on their assigned stage
- Members must ensure compliance with applicable price bands, margin requirements, and settlement obligations for securities under surveillance
- Securities moving to Trade for Trade framework will have additional restrictions
Important Dates
- Effective Date: November 03, 2025 - All changes to LT-ASM classifications become applicable
Securities Details
Part A - New Additions to LT-ASM
- PPAP Automotive Ltd (532934, INE095I01015)
Part C - Moving to Lower Stages (Improved)
- Ambo Agritec Ltd → Stage I
- Arihant Foundations & Housing Ltd → Stage III
- Ashram Online.Com Ltd → Stage I
- Earthstahl & Alloys Ltd → Stage I
- Marsons Ltd → Stage I
- Rajeshwari Cans Ltd → Stage I
- Sirohia & Sons Ltd → Stage I
- Softrak Venture Investment Ltd → Stage I
- Sri Adhikari Brothers Television Network Ltd → Stage II
Part II - Exiting LT-ASM Framework
16 securities including Advait Energy Transitions, Aryan Share and Stock Brokers, Diana Tea Company, Emerald Leisures, Garuda Construction, Gujarat Hy-Spin, Hind Rectifiers, Sharda Cropchem, Sterlite Technologies, and others.
Impact Assessment
The removal of 16 securities from LT-ASM represents improved market conditions for those stocks, potentially leading to increased liquidity and reduced trading restrictions. The addition of PPAP Automotive to the framework indicates heightened surveillance requirements. Securities moving to lower stages benefit from relaxed surveillance measures, while those transitioning to Trade for Trade framework face stricter trading conditions. Overall market impact is moderate, affecting liquidity and trading activity in the specified securities.
Impact Justification
Affects trading conditions for 26 securities through surveillance framework changes, with 1 new addition, 9 stage reductions, and 16 removals from LT-ASM