Description

BSE announces securities being added to, moved within, and removed from the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 12, 2025.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 12, 2025. The circular identifies 7 securities being newly shortlisted for ST-ASM (including 1 SME scrip and 1 T+0 scrip), 8 securities moving out of the framework (with 3 moving to ESM and 4 being SME scrips), and provides a consolidated list of all securities currently under ST-ASM surveillance. No securities are being moved to higher or lower ASM stages at this time.

Key Points

  • 7 securities newly added to Short Term 5/15/30 Days ASM Framework
  • Includes Gallantt Ispat Ltd, Laddu Gopal Online Services Ltd, Retaggio Industries Ltd (SME), Rnit Ai Solutions Ltd, Sera Investments & Finance India Ltd, and Transformers and Rectifiers (India) Ltd (both regular and T+0 scrip codes)
  • 8 securities moving out of ST-ASM Framework, including Blue Cloud Softech Solutions Ltd, Essex Marine Ltd, Mafia Trends Ltd, PNGS Gargi Fashion Jewellery Ltd, Sandur Manganese & Iron Ores Ltd, Sugal & Damani Share Brokers Ltd, Sunsky Logistics Ltd, and Trade Wings Ltd
  • 3 securities moving out due to inclusion in ESM Framework (Mafia Trends Ltd, Sunsky Logistics Ltd, Trade Wings Ltd)
  • No securities moving to higher or lower ASM stages
  • Consolidated list includes at least 10+ securities across different ASM stages

Regulatory Changes

Securities under ST-ASM are subject to enhanced surveillance measures including:

  • Additional surveillance deposit requirements
  • 100% margin requirements
  • Restrictions on order types and trading mechanisms
  • Enhanced price bands and circuit filters
  • The framework operates on 5/15/30 day cycles to monitor abnormal price movements

Compliance Requirements

  • Trading members must collect 100% upfront margin for purchases in ST-ASM securities
  • Enhanced surveillance deposits applicable as per ASM stage
  • Only regular lot orders allowed (no special terms)
  • Securities may face additional restrictions based on ASM stage (I, II, III, or IV)
  • Members must monitor and comply with margin collection requirements for affected scrips

Important Dates

  • Effective Date: November 12, 2025 - All ST-ASM changes become applicable

Impact Assessment

Market Impact: Medium - The addition of 7 securities to ST-ASM will result in reduced liquidity and higher trading costs for these scrips due to 100% margin requirements. The removal of 8 securities provides relief by allowing normal trading conditions.

Investor Impact: Investors holding or trading the 7 newly added securities will face increased margin requirements and trading restrictions. This may lead to reduced speculative activity and price volatility in these stocks.

Operational Impact: Brokers and trading members must update their systems to enforce enhanced margin collection and trading restrictions for the newly added securities while removing restrictions on the 8 securities exiting the framework.

Risk Mitigation: ST-ASM measures aim to curb excessive speculation and protect retail investors from volatile price movements in identified securities. The framework serves as an early warning system before more stringent measures like GSM or ESM are applied.

Impact Justification

ST-ASM measures impose trading restrictions on volatile securities to protect investors. Affects specific stocks with enhanced surveillance requirements including margin increases and order restrictions.