Description

BSE adds MSR India Ltd and Switching Technologies Gunther Ltd to Enhanced Surveillance Measure framework effective November 14, 2025, with consolidated list of 29+ securities under ESM stages.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) framework effective November 14, 2025. Two securities - MSR India Ltd (Scrip Code: 508922, ISIN: INE331L01026) and Switching Technologies Gunther Ltd (Scrip Code: 517201, ISIN: INE311D01017) - have been newly added to the ESM framework at Stage I. No securities are moving to higher or lower ESM stages, and no securities are exiting the framework. The circular includes a consolidated list of 29+ securities currently under ESM surveillance across different stages.

Key Points

  • Two new securities added to ESM framework: MSR India Ltd and Switching Technologies Gunther Ltd
  • Both securities placed in Stage I of Enhanced Surveillance Measure
  • No securities moving to higher ESM stages
  • No securities moving to lower ESM stages
  • No securities exiting ESM framework in this update
  • Consolidated list includes 29+ securities under various ESM stages (Stage I and Stage II)
  • Framework includes both main board and SME scrips

Regulatory Changes

The Enhanced Surveillance Measure framework continues to operate as a risk management tool to monitor securities with abnormal price movements or unusual trading patterns. Securities under ESM are subject to additional compliance requirements and trading restrictions based on their ESM stage.

Compliance Requirements

  • Trading members must be aware of securities under ESM framework
  • Enhanced monitoring and surveillance applies to listed securities
  • Additional margin requirements and trading restrictions may apply based on ESM stage
  • Securities marked with specific notations: * (As per NSE), # (SME Scrip), $ (moving to SMP Framework), @ (moving to IBC Framework), ^ (As per Parent Company), ~ (continuing in Trade for Trade)

Important Dates

  • Effective Date: November 14, 2025 - New ESM classifications become applicable
  • Circular Date: November 13, 2025

Impact Assessment

Market Impact: Limited and targeted impact on two specific securities being added to ESM framework. These stocks will face enhanced surveillance and potential trading restrictions.

Trading Impact: Investors and traders in MSR India Ltd and Switching Technologies Gunther Ltd should expect:

  • Increased scrutiny of trading activities
  • Possible additional margin requirements
  • Potential restrictions on intraday trading
  • Enhanced price band monitoring

Investor Impact: Existing shareholders and potential investors should exercise increased caution when trading these securities. The ESM classification indicates abnormal price movements or trading patterns that warrant closer monitoring.

Consolidated List Highlights

The circular provides a comprehensive list of securities under ESM framework including:

  • AAA Technologies Ltd (Stage I)
  • Aarey Drugs & Pharmaceuticals Ltd (Stage II)
  • Aarvee Denims & Exports Ltd (Stage I)
  • Multiple other securities across Stage I and Stage II classifications
  • Mix of main board and SME segment securities

Impact Justification

Addition of 2 securities to ESM framework affects trading in these stocks with enhanced monitoring and restrictions. Medium impact as it's a routine surveillance update affecting specific securities.