Description

BSE circular detailing securities entering, exiting, and continuing in the Short Term Additional Surveillance Measure framework effective November 04, 2025.

Summary

BSE has updated the list of securities under the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 04, 2025. The circular identifies 19 securities being newly shortlisted for ST-ASM, 1 security moving to a higher stage within the framework, and 11 securities moving out of the ST-ASM framework.

Key Points

  • 19 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
  • Includes both mainboard and SME scrips (SME scrips marked with @)
  • 1 security (Pace E-Commerce Ventures Ltd) moving to higher stage ASM
  • 11 securities exiting ST-ASM framework
  • Several securities exiting due to inclusion in other surveillance frameworks (LT-ASM, GSM, ESM, etc.)
  • Changes effective from November 04, 2025

Securities Entering ST-ASM Framework

Mainboard Securities:

  • Anna Infrastructures Ltd (530799)
  • Atishay Ltd (538713)
  • Batliboi Ltd (522004)
  • Chemcrux Enterprises Ltd (540395)
  • Chennai Petroleum Corporation Ltd (500110)*
  • Flex Foods Ltd (523672)
  • HB Leasing & Finance Company Ltd (508956)
  • Kati Patang Lifestyle Ltd (531126)
  • Khandelwal Extractions Ltd (519064)
  • LS Industries Ltd (514446)
  • Maxheights Infrastructure Ltd (534338)
  • Pasupati Acrylon Ltd (500456)*
  • Rapicut Carbides Ltd (500360)
  • Shyamkamal Investments Ltd (505515)

SME Securities:

  • Faalcon Concepts Ltd (544164)@
  • Infonative Solutions Ltd (544393)@
  • Krupalu Metals Ltd (544509)@
  • Mish Designs Ltd (544015)@
  • Titaanium Ten Enterprise Ltd (539985)@

*As per NSE

Securities Moving to Higher Stage

  • Pace E-Commerce Ventures Ltd (543637) - SME scrip continuing in ST-ASM but moving to higher stage

Securities Exiting ST-ASM Framework

  1. Bhageria Industries Ltd (530803)
  2. Helpage Finlease Ltd (539174)
  3. Jattashankar Industries Ltd (514318)* - moving to LT-ASM
  4. Mafatlal Industries Ltd (500264)
  5. Marc Loire Fashions Ltd (544437)@ - SME
  6. One Global Service Provider Ltd (514330)
  7. Raghuvansh Agrofarms Ltd (538921)@ - SME
  8. Rajkot Investment Trust Ltd (539495)
  9. SBL Infratech Ltd (543366)@ - SME
  10. Silicon Rental Solutions Ltd (543615)@ - SME
  11. Supershakti Metaliks Ltd (541701)@ - SME

Regulatory Framework

The Short Term Additional Surveillance Measure is applied to securities that exhibit:

  • Unusual price movements
  • Abnormal trading volumes
  • Potential market manipulation concerns

Securities under ST-ASM are subject to:

  • Higher margin requirements
  • Trade-to-trade settlement
  • Price bands
  • Additional disclosure requirements

Exit Reasons

Securities may exit ST-ASM due to inclusion in other frameworks:

  • (*) LT-ASM Framework (Long Term Additional Surveillance Measure)
  • (**) Trade for Trade Framework
  • (#) GSM Framework (Graded Surveillance Measure)
  • (^) Pledge Framework
  • ($) ESM Framework (Enhanced Surveillance Measure)

Important Dates

  • Effective Date: November 04, 2025
  • All changes to ST-ASM framework applicability take effect from market opening on this date

Compliance Requirements

  • Trading members must ensure compliance with ST-ASM framework requirements for affected securities
  • Enhanced margin requirements apply to all positions in ST-ASM securities
  • Trade-to-trade settlement mandatory for these securities
  • Price bands applicable as per ST-ASM stage (5/15/30 days)

Impact Assessment

Trading Impact:

  • Reduced liquidity for securities entering ST-ASM due to higher margins and trade-to-trade settlement
  • Investors holding positions in these securities will face higher capital requirements
  • Improved liquidity expected for 11 securities exiting the framework

Market Participants Affected:

  • Retail and institutional investors with positions in affected securities
  • Brokers managing margin requirements for clients
  • Market makers and liquidity providers

Risk Mitigation:

  • ST-ASM framework aims to protect investors from excessive volatility
  • Enhanced surveillance helps detect and prevent potential market manipulation
  • Staged approach (5/15/30 days) allows graduated response to market conditions

Impact Justification

Affects trading conditions for 19 securities entering ST-ASM and 11 securities exiting the framework, impacting liquidity and trading margins for these stocks