Description

BSE announces changes to Long Term ASM Framework with 4 new securities added, 2 moved to higher stages, and 1 security exiting the framework effective November 12, 2025.

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective November 12, 2025. Four new securities have been shortlisted for inclusion in the LT-ASM framework, two existing securities will be moved to higher ASM stages, and one security will exit the framework due to inclusion in the ESM Framework.

Key Points

  • 4 new securities added to Long Term ASM Framework: Omnipotent Industries Ltd, Shahi Shipping Ltd, Switching Technologies Gunther Ltd, and Tanvi Foods (India) Ltd
  • 2 securities moving to higher ASM Stage II: Athena Constructions Ltd and Jet Solar Ltd
  • 1 security exiting LT-ASM: Fone4 Communications (India) Ltd (moving to ESM Framework)
  • No securities moving to lower ASM stages
  • No securities shortlisted for Direct Stage IV under notice no.20210604-41
  • Consolidated list includes multiple securities across ASM Stages I through IV

Regulatory Changes

The Long Term ASM Framework is designed to alert investors about securities displaying abnormal price movements or unusual trading patterns over extended periods. Securities under this framework face enhanced surveillance with stricter margins and trading restrictions to protect investor interests.

Compliance Requirements

  • Trading members must ensure compliance with ASM framework requirements for affected securities
  • Enhanced margin requirements apply to securities in LT-ASM framework
  • Investors should be aware of increased surveillance and potential trading restrictions
  • T+0 scrips marked with ~ are shortlisted based on parent company criteria

Important Dates

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

Impact Assessment

Part A - New Inclusions: Four securities will face enhanced surveillance measures, likely resulting in reduced liquidity, higher margins, and increased scrutiny of trading activity.

Part B - Stage Escalation: Athena Constructions Ltd and Jet Solar Ltd moving to Stage II ASM indicates continued concerns about their trading patterns, resulting in more stringent surveillance measures and potentially higher margin requirements.

Part C - Stage De-escalation: No securities are being moved to lower stages, indicating no improvement in surveillance concerns for existing LT-ASM securities.

Part D - Direct Stage IV: No securities directly placed in Stage IV, which would have indicated most severe surveillance concerns.

Annexure II - Exits: Fone4 Communications (India) Ltd exits LT-ASM due to inclusion in ESM (Enhanced Surveillance Measure) Framework, indicating a shift to different surveillance category.

Market Impact: Investors holding these securities should expect reduced liquidity, potential price volatility, and stricter trading conditions. The LT-ASM framework serves as an early warning system for securities with concerning trading patterns.

Impact Justification

LT-ASM framework changes directly impact trading conditions for affected securities with stricter surveillance measures, affecting liquidity and trading margins for multiple stocks