Description
BSE announces addition of 2 securities to ESM framework and provides consolidated list of 29 securities under enhanced surveillance effective November 14, 2025.
Summary
BSE has updated the Enhanced Surveillance Measure (ESM) framework effective November 14, 2025. Two securities are being newly added to Stage I ESM: MSR India Ltd (Scrip Code: 508922) and Switching Technologies Gunther Ltd (Scrip Code: 517201). No securities are moving to higher or lower ESM stages, and no securities are exiting the framework. The consolidated list contains 29 securities under various ESM stages.
Key Points
- 2 new securities shortlisted for ESM Stage I effective November 14, 2025
- MSR India Ltd (ISIN: INE331L01026, Scrip Code: 508922) added to ESM
- Switching Technologies Gunther Ltd (ISIN: INE311D01017, Scrip Code: 517201) added to ESM
- No securities moving to higher ESM stages
- No securities moving to lower ESM stages
- No securities exiting ESM framework
- Consolidated list shows 29 securities under ESM surveillance
- Most securities (27 out of 29) are in Stage I ESM
- 2 securities in Stage II ESM: Aarey Drugs & Pharmaceuticals Ltd and Alan Scott Enterprises Ltd
Regulatory Changes
The Enhanced Surveillance Measure framework continues to be applied to identify securities with abnormal price movements or trading patterns. Securities under ESM are subject to additional surveillance and trading restrictions to protect investor interests. The framework uses staged approach (Stage I and Stage II) based on severity and persistence of concerns.
Compliance Requirements
- Trading members and investors should note the ESM status of the listed securities
- Securities under ESM may have additional margin requirements and trading restrictions
- Market participants should exercise caution when trading in ESM securities
- Investors advised to review ESM list before executing trades in affected securities
Important Dates
- Effective Date: November 14, 2025 - New ESM additions and consolidated list becomes applicable
Impact Assessment
The addition of 2 securities to ESM framework will result in enhanced monitoring and potentially restricted trading conditions for MSR India Ltd and Switching Technologies Gunther Ltd. Investors in these securities may face additional margin requirements and price bands. The measure is designed to protect investors from excessive volatility and unusual price movements. The relatively small number of new additions suggests targeted intervention rather than broad market concerns.
Detailed Securities List
New Additions to ESM Stage I (Effective Nov 14, 2025)
- MSR India Ltd - Scrip Code: 508922, ISIN: INE331L01026
- Switching Technologies Gunther Ltd - Scrip Code: 517201, ISIN: INE311D01017
Consolidated ESM List (Partial - 29 Securities)
Stage I ESM includes: AAA Technologies Ltd, Aarvee Denims & Exports Ltd, ABM Knowledgeware Ltd, Abram Food Ltd, Achyut Healthcare Ltd, ADC India Communications Ltd, Adcon Capital Services Ltd, Adcounty Media India Ltd, Ambitious Plastomac Company Ltd, Ameenji Rubber Ltd, Anand Rayons Ltd, Andhra Cements Ltd, Anlon Healthcare Ltd, Apis India Ltd, Aptus Pharma Ltd, Arfin India Ltd, Aris International Ltd, Arman Holdings Ltd, Artificial Electronics Intelligent Material Ltd, Arunis Abode Ltd, Aryaman Capital Markets Ltd, and others.
Stage II ESM includes: Aarey Drugs & Pharmaceuticals Ltd, Alan Scott Enterprises Ltd, Anirit Ventures Ltd, Anka India Ltd, Aplab Ltd, Arunjyoti Bio Ventures Ltd.
Impact Justification
Addition of 2 new securities to ESM framework affects trading conditions for specific stocks but has limited market-wide impact