Description

BSE announces changes to Long Term ASM Framework effective November 11, 2025, with 8 securities newly shortlisted, 1 security moving to higher stage, and 1 security exiting the framework.

Summary

BSE has issued updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective November 11, 2025. The circular identifies 8 securities newly shortlisted under LT-ASM, 1 security moving to a higher ASM stage (Stage II), and 1 security exiting the framework due to inclusion in Enhanced Surveillance Measure (ESM). The LT-ASM framework is designed to alert investors about securities with abnormal price movements or unusual trading patterns.

Key Points

  • 8 securities newly shortlisted in Long Term ASM Framework: Ashnisha Industries, Bothra Metals & Alloys, Calcom Vision, Mishka Exim, Punjab Communications, Reetech International, Rich Universe Network, and Typhoon Financial Services
  • Lancor Holdings Ltd (Scrip Code: 509048) moving from current stage to ASM Stage II
  • UTL Industries Ltd (Scrip Code: 500426) moving out of LT-ASM Framework due to inclusion in ESM Framework
  • No securities moving to lower ASM stages
  • No securities being directly placed in Stage IV
  • Changes effective from November 11, 2025

Regulatory Changes

The Long Term ASM Framework continues BSE’s surveillance mechanism to protect investor interests by identifying securities with concerning trading patterns. Securities under LT-ASM are subject to enhanced monitoring and may have specific trading restrictions including price bands, trade-for-trade settlement, or additional margin requirements depending on the ASM stage.

Compliance Requirements

  • Trading members must ensure compliance with ASM-specific requirements for affected securities
  • Investors should be aware of enhanced surveillance status when trading these securities
  • Securities in higher ASM stages may be subject to additional margin requirements and trading restrictions
  • Market participants must adhere to any trade-for-trade settlement requirements if applicable

Important Dates

  • Effective Date: November 11, 2025 - All LT-ASM changes become applicable

Impact Assessment

Market Impact: Medium - Affects 10 securities with potential trading restrictions and increased scrutiny. The inclusion of 8 new securities in LT-ASM and movement of Lancor Holdings to Stage II indicates heightened surveillance concerns.

Trading Impact: Securities under LT-ASM typically face reduced liquidity due to additional compliance requirements and investor caution. The upgrade of Lancor Holdings to Stage II suggests continuing surveillance concerns requiring stricter monitoring.

Investor Impact: Investors holding or trading these securities should exercise increased caution and be aware of potential trading restrictions, margin requirements, and settlement obligations specific to ASM securities.

Affected Securities Details

Part A - New Entries (LT-ASM)

  1. Ashnisha Industries Ltd (541702, INE694W01024)
  2. Bothra Metals & Alloys Ltd (535279, INE583M01012)
  3. Calcom Vision Ltd (517236, INE216C01010)
  4. Mishka Exim Ltd (539220, INE540S01019)
  5. Punjab Communications Ltd (500346, INE609A01010)
  6. Reetech International Ltd (543617, INE0MKO01015)
  7. Rich Universe Network Ltd (530271, INE652D01014)
  8. Typhoon Financial Services Ltd (539468, INE761R01013)

Part B - Stage升级

  • Lancor Holdings Ltd (509048, INE572G01025) - Moving to ASM Stage II

Part D - Exits

  • UTL Industries Ltd (500426, INE184E01024) - Moving out due to ESM Framework inclusion

Impact Justification

Affects trading conditions for 10 securities through Long Term ASM framework changes, with potential trading restrictions and increased surveillance for affected stocks