Description

BSE has revised price bands for 34 securities ranging from 2% to 20%, effective from November 13, 2025, impacting daily trading limits for these stocks.

Summary

BSE has announced revisions to price bands for 34 securities effective from November 13, 2025. The revised price bands range from 2% to 20%, representing enhanced surveillance measures for these stocks. Price bands control the maximum price movement allowed in a single trading session, serving as circuit filters to prevent excessive volatility.

Key Points

  • 34 securities have revised price bands effective November 13, 2025
  • Price band revisions range from 2% (most restrictive) to 20% (least restrictive)
  • 15 stocks assigned 5% price band
  • 9 stocks assigned 2% price band (tightest restriction)
  • 4 stocks assigned 20% price band (widest allowance)
  • 1 stock (Supertech EV Ltd) assigned 10% price band
  • Notice issued by BSE Surveillance Department
  • Trading members required to implement changes in trading systems

Regulatory Changes

No new regulatory framework introduced. This represents application of existing price band mechanisms as surveillance tools. Price bands are dynamic measures adjusted based on stock behavior, volatility patterns, and compliance concerns.

Compliance Requirements

  • Trading members must update their systems to reflect revised price bands by November 13, 2025
  • Orders exceeding the revised price band limits will be rejected
  • Members should communicate changes to clients trading in affected securities
  • Clarifications can be sought at bse.surv@bseindia.com

Important Dates

  • Notice Date: November 12, 2025
  • Effective Date: November 13, 2025

Impact Assessment

Market Impact: Moderate impact on 34 securities, predominantly small and micro-cap stocks. Tighter price bands (2-5%) will significantly restrict intraday volatility and may reduce speculative trading activity. Securities with 20% bands (GFL Ltd, Kalyani Investment Company Ltd, Nalwa Sons Investments Ltd, Pilani Investment and Industries Corporation Ltd, Titan Intech Ltd) retain higher trading flexibility.

Liquidity Impact: Stocks with tighter bands may experience reduced liquidity as price discovery becomes constrained. This could widen bid-ask spreads and increase trading costs.

Investor Impact: Existing shareholders face limited exit options within single trading sessions for stocks with 2-5% bands. New investors may find entry opportunities restricted.

Surveillance Context: Price band tightening typically indicates heightened surveillance concerns related to unusual price movements, low liquidity, compliance issues, or elevated volatility. Investors should exercise caution with these securities.

Impact Justification

Price band revisions affect trading volatility and liquidity for 34 securities, primarily small-cap stocks. Tighter bands (2-5%) restrict daily price movements while wider bands (10-20%) allow greater volatility. This is a routine surveillance measure with moderate impact on affected securities.