Description

BSE announces inclusion and exclusion of securities in the Long Term Additional Surveillance Measure framework effective November 04, 2025.

Summary

BSE has issued an update on the Long Term Additional Surveillance Measure (LT-ASM) framework, announcing changes effective November 04, 2025. Two securities are being newly shortlisted in the LT-ASM framework, one security (Megasoft Ltd) is being moved directly to Stage IV, and two securities are moving out of the framework due to inclusion in the Enhanced Surveillance Measure (ESM) framework. The circular also provides a consolidated list of all securities currently under LT-ASM across different stages.

Key Points

  • 2 new securities added to Long Term ASM Framework: FONE4 Communications (India) Limited and Jattashankar Industries Ltd
  • Megasoft Ltd directly placed in Stage IV of LT-ASM Framework as per NSE coordination
  • 2 securities moving out: GTN Textiles Ltd and Lancer Container Lines Ltd (moved to ESM Framework)
  • No securities are being moved to higher or lower ASM stages within the LT-ASM framework
  • Consolidated list includes 14+ securities across different ASM stages (Stage I and Stage IV shown)
  • Changes effective from November 04, 2025

Regulatory Changes

The Long Term ASM Framework continues to apply enhanced surveillance measures to securities that meet specific criteria. Securities under this framework are subject to additional monitoring and trading restrictions based on their ASM stage classification. The framework aims to protect investor interests by identifying and monitoring securities with abnormal price movements or other concerning patterns.

Compliance Requirements

  • Market participants must be aware of the updated LT-ASM list effective November 04, 2025
  • Trading in newly included securities will be subject to LT-ASM restrictions including price bands, trade-to-trade settlement, and other applicable measures
  • Brokers and trading members should update their systems to reflect the new surveillance classifications
  • Enhanced disclosure requirements apply to securities under LT-ASM framework

Important Dates

  • Effective Date: November 04, 2025 - All changes to LT-ASM framework become applicable

Impact Assessment

Market Impact: The inclusion of new securities in LT-ASM will result in increased trading restrictions, potentially affecting liquidity and trading volumes for FONE4 Communications and Jattashankar Industries. The direct placement of Megasoft Ltd in Stage IV indicates more stringent surveillance measures.

Investor Impact: Investors holding or trading in the affected securities should be aware of enhanced surveillance measures including potential trade-to-trade settlement requirements, reduced price bands, and additional margin requirements.

Operational Impact: The movement of GTN Textiles and Lancer Container Lines to ESM Framework indicates a shift to different surveillance parameters, which may involve different trading restrictions and compliance requirements.

Securities Details

Part A - New Inclusions:

  • FONE4 Communications (India) Limited (Scrip Code: 543521, ISIN: INE0L3H01014)
  • Jattashankar Industries Ltd (Scrip Code: 514318, ISIN: INE722N01014)

Part D - Direct Stage IV Placement:

  • Megasoft Ltd (Scrip Code: 532408, ISIN: INE933B01012)

Annexure II - Moving Out:

  • GTN Textiles Ltd (Scrip Code: 532744, ISIN: INE302H01017) - moved to ESM
  • Lancer Container Lines Ltd (Scrip Code: 539841, ISIN: INE359U01028) - moved to ESM

Impact Justification

Affects trading conditions for specific securities under enhanced surveillance, with 2 new inclusions and 2 exclusions from LT-ASM framework