Description

BSE revises price bands for 23 scrips ranging from 2% to 10%, effective November 6, 2025, including companies like Thangamayil Jewellery, Star Housing Finance, and Nirmitee Robotics.

Summary

BSE has revised price bands for 23 securities effective November 6, 2025. The revised price bands range from 2% to 10%, replacing their existing levels. This circular was issued by BSE Surveillance Department on November 4, 2025 (Notice No. 20251104-45). Trading members have been notified of these changes which will restrict the maximum daily price movement for the affected scrips.

Key Points

  • 23 scrips will have revised price bands effective November 6, 2025
  • Price bands range from 2% (most restrictive) to 10% (least restrictive among the revised)
  • Three scrips get 2% price band: BGIL Films & Technologies, Esha Media Research, Tamilnadu Steel Tubes
  • Four scrips get 10% price band: Contil India, Duke Offshore, Keynote Financial Services, Nirmitee Robotics, Star Housing Finance, Thangamayil Jewellery, Tierra Agrotech
  • Remaining 16 scrips get 5% price band
  • Changes are part of BSE surveillance measures
  • Clarifications can be sought at bse.surv@bseindia.com

Regulatory Changes

The price band mechanism is a surveillance tool that limits the maximum percentage change in a security’s price during a trading session. The revised bands indicate:

  • 2% Band (Highest Restriction): Applied to 3 companies - BGIL Films & Technologies (511664), Esha Media Research (531259), and Tamilnadu Steel Tubes (513540)
  • 5% Band (Moderate Restriction): Applied to 16 companies including Bharat Bhushan Finance, Containe Technologies, Golkonda Aluminium, GTN Textiles, Jay Ushin, Kiduja India, Lancer Container Lines, Mac Hotels, Magnus Steel, Octaware Technologies, Onelife Capital Advisors, TCM, and Vani Commercials
  • 10% Band (Standard Restriction): Applied to 4 companies - Contil India, Duke Offshore, Keynote Financial Services, Nirmitee Robotics, Star Housing Finance, Thangamayil Jewellery, and Tierra Agrotech

Compliance Requirements

  • Trading members must ensure compliance with revised price bands from November 6, 2025
  • All trading systems and risk management systems must be updated to reflect new price band limits
  • Orders exceeding the revised price bands will be rejected by the trading system
  • Members should communicate these changes to their clients trading in the affected securities
  • For any clarification, members must write to bse.surv@bseindia.com

Important Dates

  • Notice Date: November 4, 2025
  • Effective Date: November 6, 2025

Impact Assessment

Market Impact: The tightening of price bands indicates that BSE Surveillance has identified potential concerns with these securities, possibly related to volatility, liquidity issues, or other risk factors. Tighter price bands (2% and 5%) will significantly restrict intraday price movements, potentially reducing trading volumes and liquidity in these scrips.

Trading Impact: Investors and traders in these 23 securities will face limited price discovery on a daily basis. Those with short-term trading strategies may find reduced opportunities, while the measures protect against excessive volatility.

Risk Management: These surveillance measures are designed to protect investors from extreme price movements and potential manipulation. The varying levels (2%, 5%, 10%) suggest differentiated risk assessment by the exchange for each security.

Operational Impact: Trading members need to update their systems and inform clients about the reduced trading ranges, especially for the 3 scrips with only 2% movement allowed per day.

Impact Justification

Price band changes affect trading volatility limits for 23 securities, with tighter bands (2%-10%) indicating surveillance measures due to potential market concerns or volatility.