Description

BSE updates the list of securities under Enhanced Surveillance Measure (ESM) framework, adding 4 new securities and moving 1 security to higher stage ESM effective November 4, 2025.

Summary

BSE has updated the list of securities under the Enhanced Surveillance Measure (ESM) framework effective November 4, 2025. Four new securities are being added to ESM Stage I, and one existing security (Tradewell Holdings Ltd) is being moved to a higher ESM stage. No securities are moving to lower stages or exiting the ESM framework. The consolidated list includes 27 securities across various ESM stages.

Key Points

  • 4 new securities added to Enhanced Surveillance Measure (ESM) Stage I
  • 1 security (Tradewell Holdings Ltd) moved to higher ESM stage
  • No securities moving to lower ESM stages
  • No securities exiting the ESM framework
  • Changes effective from November 4, 2025
  • Consolidated list contains 27 securities under ESM surveillance

Securities Added to ESM Framework

New Entries (Stage I) - Effective Nov 04, 2025:

  1. GTN Textiles Ltd (Scrip Code: 532744, ISIN: INE302H01017)
  2. Jay Ushin Ltd (Scrip Code: 513252, ISIN: INE289D01015)
  3. Lancer Container Lines Ltd (Scrip Code: 539841, ISIN: INE359U01028)
  4. Vintron Informatics Ltd (Scrip Code: 517393, ISIN: INE043B01028)

Securities Moving to Higher ESM Stage

  1. Tradewell Holdings Ltd (Scrip Code: 531203, ISIN: INE819G01012) - Moving to higher stage ESM

Consolidated ESM List Highlights

The consolidated list includes 27 securities under various ESM stages, including:

  • AAA Technologies Ltd (Stage I)
  • Aarey Drugs & Pharmaceuticals Ltd (Stage II)
  • Aarvee Denims & Exports Ltd (Stage I)
  • Multiple other securities across different sectors

Regulatory Changes

The Enhanced Surveillance Measure (ESM) framework is designed to alert investors about securities showing abnormal price movements or other concerning trading patterns. Securities under ESM are subject to:

  • Increased surveillance and monitoring
  • Additional disclosure requirements
  • Potential trading restrictions depending on ESM stage
  • Progressive escalation through higher stages if concerns persist

Compliance Requirements

  • Trading Members: Must inform clients about ESM status of these securities
  • Investors: Should exercise additional caution when trading in ESM securities
  • Listed Companies: Must comply with enhanced disclosure and surveillance requirements
  • Market Participants: Need to be aware of the ESM status for risk management

Important Dates

  • Effective Date: November 4, 2025
  • Circular Date: November 3, 2025

Impact Assessment

Trading Impact: Securities added to or moved within the ESM framework may experience:

  • Reduced liquidity due to investor caution
  • Increased volatility monitoring
  • Additional compliance burden on trading members
  • Potential reputational impact on listed companies

Market Significance: The addition of 4 securities and upgrade of 1 security indicates ongoing surveillance activities. The relatively small number suggests targeted action rather than systemic concerns. Companies under ESM need to address underlying issues to avoid further escalation or continued surveillance.

Investor Implications: Investors holding or considering these securities should:

  • Conduct enhanced due diligence
  • Be aware of potentially lower liquidity
  • Monitor company disclosures closely
  • Understand the reasons for ESM inclusion

Impact Justification

Affects trading conditions for specific securities under surveillance. Limited to 5 securities with changes, indicating targeted surveillance action rather than broad market impact.