Description

BSE circular announcing securities being included, excluded, or moved between stages in the Long Term Additional Surveillance Measure framework effective November 12, 2025.

Summary

BSE has issued an updated list of securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective November 12, 2025. The circular identifies 4 new securities being shortlisted into LT-ASM, 2 securities moving to higher ASM stages, 1 security moving out of the framework (due to ESM inclusion), and provides a consolidated list of all securities currently under LT-ASM surveillance across various stages.

Key Points

  • 4 securities newly shortlisted in Long Term ASM Framework: Omnipotent Industries Ltd, Shahi Shipping Ltd, Switching Technologies Gunther Ltd, and Tanvi Foods (India) Ltd
  • 2 securities continuing in LT-ASM but moving to Stage II: Athena Constructions Ltd and Jet Solar Ltd
  • 1 security moving out of LT-ASM Framework: Fone4 Communications (India) Ltd (moving to ESM Framework)
  • No securities moving to lower ASM stages or directly to Stage IV
  • Consolidated list includes multiple securities across ASM Stages I and IV
  • Changes effective from November 12, 2025

Regulatory Changes

The Long Term Additional Surveillance Measure framework applies enhanced monitoring and trading restrictions to securities exhibiting certain risk characteristics. Securities in LT-ASM face stricter surveillance including price bands, margin requirements, and trading limits. The framework operates in multiple stages with progressively stringent measures.

Compliance Requirements

  • Trading members must note the revised ASM stage classifications for affected securities
  • Enhanced margin requirements and trading restrictions apply to securities under LT-ASM
  • Price bands and position limits as per the applicable ASM stage must be observed
  • Special attention required for securities marked with symbols indicating T+0 status or classification basis

Important Dates

  • Effective Date: November 12, 2025 - All changes to LT-ASM classifications take effect

Impact Assessment

Market Impact: Securities entering or moving to higher stages in LT-ASM framework face increased trading restrictions which typically result in lower liquidity and higher transaction costs. The 4 newly shortlisted securities and 2 securities moving to Stage II will experience stricter price bands and margin requirements.

Investor Impact: Investors holding or trading these securities must account for enhanced surveillance measures including higher margins, restricted position limits, and potential reduced liquidity. Fone4 Communications moving to ESM (Enhanced Surveillance Measure) indicates even more stringent oversight.

Operational Impact: Brokers and trading members need to update their systems to reflect the new ASM classifications and ensure compliance with applicable trading restrictions for each stage.

Impact Justification

Affects trading conditions for specific securities under surveillance framework, with restricted trading parameters for shortlisted stocks