Description

BSE announces securities shortlisted for Long Term ASM Framework effective November 06, 2025, including new additions, stage movements, and consolidated list of securities under surveillance.

Summary

BSE has issued a circular regarding the applicability of Long Term Additional Surveillance Measure (LT-ASM) Framework effective November 06, 2025. The circular identifies 7 securities newly shortlisted for LT-ASM, 1 security moving to a higher surveillance stage (Stage II), and provides a consolidated list of all securities currently under the LT-ASM framework.

Key Points

  • 7 securities newly shortlisted in Long Term ASM Framework: Flex Foods Ltd, IFB Agro Industries Ltd, JJ Finance Corporation Ltd, Kati Patang Lifestyle Ltd, Megastar Foods Ltd, MP Agro Industries Ltd, and TIERRA AGROTECH LIMITED
  • TCM Ltd (Scrip Code: 524156) will move to ASM Stage II from a lower stage
  • No securities are moving to lower ASM stages
  • No securities are being directly placed in Stage IV
  • No securities are moving out of the LT-ASM Framework
  • Consolidated list includes securities across ASM Stages I through IV
  • Special markings indicate securities under other frameworks: (*) as per NSE, (^) as per Non Promoter Holding, (~) T+0 Scrips shortlisted as per parent company

Regulatory Changes

The Long Term ASM Framework is a surveillance mechanism applied to securities that exhibit certain characteristics warranting additional monitoring. Securities under this framework face enhanced surveillance measures including potential restrictions on trading conditions. The framework operates in stages (I through IV) with increasing levels of surveillance at higher stages.

Compliance Requirements

  • Investors and market participants must be aware of securities entering or moving within the LT-ASM Framework
  • Trading in these securities may be subject to additional restrictions and surveillance measures
  • Market participants should review their positions in affected securities
  • Brokers must ensure clients are informed about the surveillance status of these securities

Important Dates

  • Effective Date: November 06, 2025 - All changes to LT-ASM Framework take effect
  • Circular Issue Date: November 04, 2025

Impact Assessment

Market Impact: The inclusion of 7 new securities in the LT-ASM Framework and the upward movement of TCM Ltd to Stage II indicates increased regulatory scrutiny on these counters. This typically results from factors such as price volatility, volume patterns, or corporate governance concerns.

Trading Impact: Securities under LT-ASM face enhanced surveillance which may include reduced price bands, increased margin requirements, or other trading restrictions depending on the stage. The move of TCM Ltd to Stage II indicates escalating concerns requiring stricter monitoring.

Investor Impact: Investors holding or considering positions in these 8 securities should exercise additional caution and be prepared for potential liquidity constraints and higher trading costs. The surveillance measures are designed to protect investors from abnormal price movements and ensure fair trading practices.

Impact Justification

Long Term ASM affects trading conditions for multiple securities with 7 new additions and 1 security moving to higher surveillance stage, impacting investor trading strategies and liquidity