Description

BSE announces revised price bands for 38 securities ranging from 1% to 20%, effective November 17, 2025, impacting trading limits for these scrips.

Summary

BSE has announced price band revisions for 38 securities effective from November 17, 2025. The price bands have been adjusted to various levels ranging from 1% to 20%, with most securities being placed in tighter bands (5% or less), indicating enhanced surveillance measures. Dalmia Bharat Sugar and Industries Ltd is notably moved to a 20% price band, while Avishkar Infra Realty Ltd receives the most restrictive 1% band.

Key Points

  • 38 securities will have revised price bands effective November 17, 2025
  • Price band ranges vary from 1% (most restrictive) to 20% (standard)
  • 17 securities assigned 5% price band
  • 9 securities assigned 10% price band
  • 7 securities assigned 20% price band
  • 1 security (Avishkar Infra Realty Ltd) assigned highly restrictive 1% band
  • 1 security (Bisil Plast Ltd) assigned 2% band
  • Changes indicate varying levels of surveillance and volatility concerns
  • Trading members can contact bse.surv@bseindia.com for clarifications

Regulatory Changes

No new regulatory framework introduced. This circular implements existing price band mechanisms as surveillance tools to control excessive volatility and protect investor interests in specific securities.

Compliance Requirements

  • Trading members must update their systems to reflect revised price bands before market opening on November 17, 2025
  • Orders exceeding the new price band limits will be rejected
  • Members should inform their clients about the revised trading limits for affected securities
  • Risk management systems must be adjusted to account for new price movement restrictions

Important Dates

  • November 14, 2025: Circular issue date
  • November 17, 2025: Effective date for revised price bands

Impact Assessment

Market Impact: The tighter price bands (particularly 1%, 2%, and 5% bands) will significantly restrict intraday price movements for the affected securities, reducing volatility but also potentially impacting liquidity. Securities with 5% or lower bands may experience reduced trading volumes as investors face stricter limits.

Investor Impact: Investors holding these securities will face limited price discovery and reduced ability to exit positions quickly during volatile market conditions. The restrictive bands suggest these securities are under enhanced surveillance, potentially indicating concerns about price manipulation or unusual trading activity.

Trading Impact: Day traders and algorithmic trading strategies will be significantly affected, particularly for securities with 1-5% bands. The restrictions will limit profit potential from intraday movements but provide downside protection during adverse market conditions.

Notable Cases:

  • Avishkar Infra Realty Ltd (1% band): Highest level of trading restriction
  • Dalmia Bharat Sugar and Industries Ltd (20% band): Moved to normal trading band, suggesting reduced surveillance concerns
  • 7 other securities also assigned standard 20% bands, indicating normalized trading status

Impact Justification

Affects trading parameters for 38 securities with price band changes ranging from restrictive 1% to standard 20%, impacting liquidity and trading strategies for these stocks