Description
BSE circular announcing changes to securities under Short Term Additional Surveillance Measure (ST-ASM) framework, effective November 13, 2025, including additions, removals, and stage movements.
Summary
BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 13, 2025. Seven securities have been newly shortlisted for ST-ASM, including SME scrips, while 17 securities are moving out of the framework (some transitioning to other surveillance measures like LT-ASM, ESM, or GSM). One security will move to a lower stage within ST-ASM.
Key Points
- 7 securities newly shortlisted for Short Term 5/15/30 Days ASM Framework
- 1 security (Pace E-Commerce Ventures Ltd) moving to lower stage ASM
- 17 securities exiting ST-ASM Framework
- Changes effective from November 13, 2025
- Multiple SME scrips included in the surveillance measures
- Some securities transitioning to other surveillance frameworks (LT-ASM, ESM, GSM, Trade for Trade)
Regulatory Changes
The ST-ASM framework applies enhanced surveillance to securities showing unusual price movements or trading patterns over short periods (5/15/30 days). Securities under ST-ASM face trading restrictions aimed at curbing excessive speculation.
New Additions to ST-ASM:
- AVI Polymers Ltd (539288)
- Concord Drugs Ltd (538965)
- Fischer Medical Ventures Ltd (524743)
- Gretex Corporate Services Ltd (543324)
- Madhuveer Com 18 Network Ltd (531910)
- SK Minerals & Additives Ltd (544584) - SME
- Supertech Ev Ltd (544428) - SME
Moving to Lower Stage:
- Pace E-Commerce Ventures Ltd (543637) - SME
Exiting ST-ASM Framework:
- 1 security to LT-ASM: Thangamayil Jewellery Ltd
- 2 securities to ESM: Retaggio Industries Ltd, Sarup Industries Ltd
- 1 security to GSM: Ador Multiproducts Ltd
- 4 SME securities exiting: Faalcon Concepts Ltd, Infonative Solutions Ltd, Mish Designs Ltd, Retaggio Industries Ltd
- 13 other securities removed from framework
Compliance Requirements
- Market participants must note the revised surveillance status of affected securities
- Trading in newly added ST-ASM securities will be subject to enhanced surveillance measures including potential price bands, margin requirements, and trading restrictions
- Brokers and investors should adjust their trading strategies for securities entering or exiting the framework
- Securities moving to other frameworks (LT-ASM, ESM, GSM) will be subject to respective framework requirements
Important Dates
- Effective Date: November 13, 2025 - All changes to ST-ASM framework become applicable
Impact Assessment
Market Impact: Medium - The ST-ASM framework affects liquidity and trading dynamics for the listed securities. New inclusions may see reduced trading volumes due to enhanced surveillance measures.
Investor Impact: Investors holding or trading these securities should be aware of potential increased margin requirements, reduced liquidity, and stricter monitoring. Securities exiting ST-ASM may see improved liquidity.
Operational Impact: The transition of some securities to other surveillance frameworks (LT-ASM, ESM, GSM) indicates ongoing concerns requiring different levels of monitoring. SME scrips feature prominently in both additions and removals, suggesting heightened regulatory scrutiny of the SME segment.
Impact Justification
Affects 24 securities with trading restrictions under ST-ASM framework, impacting liquidity and trading conditions for specific stocks